GDP by state: Will the North and the South ever meet?
The centralised planning strategy applied all these years did not work. One strategy across India cannot address the inherent differences between states.
India’s economy has grown at a breathtaking pace, from a nominal GDP of Rs 87 lakh crore in FY12 to an estimated Rs 190 lakh crore in FY19. Compound annual growth rate (CAGR) of 11.74% in nominal terms and 7.05% in real terms is remarkable, making India the fastest growing major economy in the world. In 2014-19, the NDA-I government grew the economy by Rs 78 lakh crore at a CAGR of 10.88%. While the Q4FY19 recorded lower growth and the forecast for the next two quarters is also lower, India is expected to retain its status going forward.