India is now a $3.1 trillion economy
NEW DELHI: India’s economy is forecast to grow by 9.2% in the current fiscal year helped by a robust farm sector and strengthening recovery in manufacturing, construction and services sector but the third Covid wave may hurt expansion in the months ahead.
If the 9.2% growth is realised it would be the fastest growth since 1988-89 when the economy expanded by 9.6%. Under the new methodology, data for which is available for 17 years, it would be the fastest expansion.
The nominal GDP (including inflation) is estimated at 17.6%. The size of the economy based on current prices in dollar terms is estimated to be $3.1 trillion.
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