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The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [62]
GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...
[8] [1] [11] Among others, India has also experienced an economic boom since the implementation of economic liberalisation in the early 1990s. [ 12 ] The first list includes estimates compiled by the International Monetary Fund 's World Economic Outlook, the second list shows the World Bank 's data, and the third list includes data compiled by ...
India is “easily” the fastest-growing economy in the world, the IMF’s executive director said, as the country’s third-quarter GDP growth blew past estimates.
GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1] As of 2011 [update] , the Government accounted for about 21% of the GDP followed by agriculture with 21% and corporate sector at 12%.
Nearly 65% of India's population is rural, [113] and contributes about 50% of India's GDP. [114] India faces high unemployment , rising income inequality , and a drop in aggregate demand . [ 115 ] [ 116 ] According to the World Bank , 93% of India's population lived on less than $10 per day, and 99% lived on less than $20 per day in 2021. [ 117 ]
Goldman analysts this week projected that this time around a shutdown would reduce GDP growth by 0.15 percentage points for each week of stoppage — but then boost GDP growth by the same amount ...
To make it more meaningful for year-to-year comparisons, a nominal GDP may be multiplied by the ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $100 million and its GDP in 2000 was $300 million. Suppose also that inflation had halved the ...