The GDP of India is expected to nurture at 7.2% in year 2018-19 as compared to the growth rate of 6.7% in the previous fiscal.
According to a latest data of India’s Central Statistics Office (CSO), the Gross Domestic Product (GDP) of India is expected to nurture at 7.2% in year 2018-19 as compared to the growth rate of 6.7% in the previous fiscal.
The CSO estimates the specified growth due to development in the performance of agriculture as well as manufacturing sectors.
The nation’s GDP in 2016-17 had extended by 7.1% and 8.2% in 2015-16.
The Economy of India is a developing mixed economy and it is the world’s seventh-largest economy by nominal GDP and the third-largest by Purchasing Power Parity (PPP).
The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018.
After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually.
Since 2014 with the exception of 2017, India’s economy has been the world’s fastest growing major economy, surpassing China.
