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  • Category: Central Government
    Points:5

    Projected GDP Growth Rate: Everyone must know and discuss

    A few days back, the report of IMF has been received. The IMF has said in the report: "Growth in India is projected to remain strong at 6.5% in both 2024 (FY25) and 2025 (FY26), with an upgrade from October of 0.2 percentage point for both years, reflecting resilience in domestic demand".

    In this connection, it is relevant to remember that RBI has estimated 7.4% GDP growth for India in the Financial Year 2024-25.

    Not only that, India also tops the chart in projected GDP growth among the top economies in the world. The ranking is given below:

    1. India: 6.5%
    2. Indonesia: 5%
    3. China: 4.2%
    4. Saudi Arabia: 4%
    5. Turkey: 3%
    6. South Africa: 1.8%
    7. Canada: 1.6%
    8. US: 1.5%
    9. Brazil: 1.5%
    10. France: 1.3%
    11. Russia: 1.1%
    12. Japan: 1%
    13. Germany: 0.9%
    14. Italy: 0.7%
    15. UK: 0.6%

    I expect respected Members will recall this stupendous success of our country in economic front and discuss this achievement.
  • #777260

    Points:5
    India emerged as the fifth-largest economy in the world by achieving strong economic growth in the first quarter of FY23 after it recovered from the COVID-19 pandemic shock.
    Many reports published by various experts and financial institutions mentioned that strong domestic demand for consumption and investment, and the Government's continued emphasis on capital expenditure are the key factors in this GDP growth. In the coming months, we expect some growth because of the increasing consumption by the consumers.
    As a taxpayer of the country, I am happy that we are seeing some growth and there are expectations that India will become the third-largest economy in the coming 10 to 12 years. However, creating a better infrastructure and attracting many investments from all over the world is to be concentrated so that more and more jobs will be created. The government should discourage free supplies and subsidies and empower the people to earn more and more.
    drrao
    always confident

  • #777265

    Points:4
    During the last 10-15 years there have been many developmental and progressive actions in our country which have helped it to improve its economy and maintain a robust GDP.
    Many world agencies are vouching for this growth and predicting still better growth in future.
    There is a good activity going on in the infrastructure and many other areas. Due to digital transactions governance is improving. Tax collection is increasing day by day helping Govt to spend more on big projects and plans.
    All this is a sign that we are progressing and economy is also strengthening.
    Agricultural production is maintained. There is no scarcity of essential items. All the economic indicators are in positive territories.
    These observations indicate that a better GDP regime can be expected in future.
    Knowledge is power.

  • #777268

    Points:4
    What I understand is that if a country is having good agricultural production and also a good manufacturing output along with good export then its GDP starts rising up. Our country is a high population country but we are also having a good amount of production of essential commodities to support them. Some of these items we are exporting also to earn the valuable foreign exchange. It is also true that we are also importing a lot of items in good quantities from outside especially China and some Western Countries. India is also spending a lot on import of crude oil and defence weapons.
    If we can generate more employment for the young people today and employ them to increase our industrial production then our GDP can be further strengthened.
    Thoughts exchanged is knowledge gained.

  • #777283

    Points:5
    Yes, India has shown a tremendous contribution in terms of economic growth and such a sign is that healthy trend in the economic front is definitely a matter rejoice to all of us. Despite the surge in the population, our country has shown how we can be self reliant in the production in the different sectors. We try our best to meet our targets putting our best. A care has been taken to discourage import so that our money earned is not frittered unnecessarily.
    But in some areas say in terms of crude oil, Australian Coke and in defense materials we still depend on the other countries to meet our demands. We need to show an improved performance in such sectors we are languishing.
    Revenue earnings in the form of GDP to our government is an indicator of our financial health and with time, a further boost of collection can be noticed.


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