According to the latest data released by the International Monetary Fund (IMF), India’s GDP (GDP) has doubled in the last ten years.
Statistics stated that the country’s GDP at current prices was 2.1 trillion USD in 2015 and by the end of 2025, the USD is expected to reach 4.27 trillion, leading to an increase of 100 percent in just ten years.
The IMF also states that India’s actual GDP growth for the current year is 6.5 percent, indicating a strong and stable expansion of the economy. The actual GDP growth refers to the increase in the value of goods and services produced in the country after adjustment of inflation. India is one of the fastest growing economies in the world
At the same time, inflation remains an important factor affecting economic conditions. Statistics states that inflation in the country is expected to be at 4.1 percent. The rate of inflation is now in the central bank of the country, the target limit of RBI is 4 to 6 percent. Inflation remains an important indicator for viewing as it affects purchasing power and cost of life.
The IMF data also stated that the USD is estimated to be the USD 11,940 (or 11.94 thousand international dollars in terms of per capita GDP, which measures the average income of a citizen on the basis of total economic production. It indicates personal prosperity and improvement in standard of living over the years.
However, data also suggests that India’s general government is currently 82.6 percent of GDP. This means that the total lending of the government is much higher than the economic production of the country.
A high debt level may face challenges in managing fiscal policies, but India despite this continues to maintain its economic pace and the government is constantly achieving fiscal targets.
The latest IMF figures highlight India’s strong economic flexibility, with rapid growth in GDP, with stable actual growth and improvement in income levels. However, factors such as inflation and high public loans remain a major sector for monitoring in the coming years.