The economy grew at the fastest rate in the last one year during the first quarter. The economic growth rate during the quarter ended June has been 13.5 percent.
India to be in top 3 economy by 2030
India has joined the top 5 economy of the world. India has once again left the UK economy behind due to its strong performance amidst the challenges. On the other hand, if the experts are to be believed, now India’s growth will continue and in the next eight years, India will be included in the top 3 economies. According to estimates, at present, India is the fastest growing economy among the world’s major economies. According to the recently released data, India has registered a growth of 13.5 percent in the first quarter.
Delhi| Last year we were 6th by about 40 billion & it was expected to happen in 2022. India is moving up the power scale & by value of forecast we will become 3rd largest by 2028-30: Dr Arvind Virmani, former chief economic advisor on India becoming world’s fifth largest economy pic.twitter.com/irwHHqU2SN
— ANI (@ANI) September 3, 2022
India’s growth will continue
Former Chief Economic Adviser of India, Dr Arvind Virmani said that it is not surprising that India is in the top 5. Looking at India’s growth, there were already signs of this happening in 2022, last year India was in sixth place and the gap from fifth place was much less. According to him, the growth will continue in this way as well and it is expected that India will be among the 3 largest economies of the world between 2028 to 30. At present, America, China, Japan and Germany are ahead of India. It is likely that India will overtake Japan and Germany in the next few years.
13.5 percent growth in first quarter
According to the recently released data, the Indian economy is once again seeing a boom and the economy has grown the fastest in the last one year during the first quarter. The economic growth rate during the quarter ended June was 13.5 percent. At the same time, leading economic institutions around the world have predicted that India will be the fastest growing economy this year. The IMF estimates that the country’s growth can be 7.4 percent this year. Other financial institutions and banks around the world have also given the same estimate.