ON THE INDIAN ECONOMY
Sir, from inheriting an Indian economy, which was slipping southwards to being painted as the global bright spot, with the Indian economy registering the fastest growth rate among large economies for two successful fiscals and in the course for the third time in financial year ’24 is a stellar achievement of the Modi government that invites deep analysis.
The journey of Indian economy was steered clear through the phases of global slowdown in 2019, COVID lockdowns, commodity price, steep escalation due to the war in Ukraine and global tensions and tightening of global financial conditions.
India’s economy has been the fastest growing among the world’s 20 largest economies for the seven of the past nine years. And those were only the seven years in the past 76 years that India has achieved this distinction.
India’s US$3.3 trillion GDP overtook that of the UK in the fiscal year ending March 31 2022, making it the fifth largest economy in the world. The Indian economy, according to the IMF estimates will emerge as the world’s third largest economy by 2027.
Hopping over Japan and Germany, as its GDP crosses US$5 trillion by 2047, India aspires to be a developed economy under the visionary leadership of the honourable Prime Minister Modi…
This story is from the December 17, 2023 edition of The Sunday Guardian.
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This story is from the December 17, 2023 edition of The Sunday Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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