A lot of confusion on SM, whether India's economy has or hasn't overtaken that of UK?
So, I did a bit of browsing and collated some information of my own and a lot of things became clear:
1) That India has overtaken UK economically! (1)
So, I did a bit of browsing and collated some information of my own and a lot of things became clear:
1) That India has overtaken UK economically! (1)
2) That India's economy with over take the German economy by the year 2025/26.
3) That it has overtaken UK and will be overtaking Germany with a nominal GDP growth rate of 10.25%
4) That a real GDP growth rate of 5%-6% will be enough to get a 10.25% nominal rate. (2)
3) That it has overtaken UK and will be overtaking Germany with a nominal GDP growth rate of 10.25%
4) That a real GDP growth rate of 5%-6% will be enough to get a 10.25% nominal rate. (2)
5) That even with the real GDP growth rate being around 5%, which implies a bottoming out, Indian economy will be in sniffing distance of $5Trillion target that government has set for itself.
6) That with a slight uptick of real GDP numbers, the economy will overshoot. (3)
6) That with a slight uptick of real GDP numbers, the economy will overshoot. (3)
7) Now that $5Trillion looks achievable and we are enroute to overtake Germany, the government is preparing the economy for a faster growth, so that these targets can be achieved much before time, and we can possibly aim at becoming 3rd largest in this decade itself. (4)
