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Economy
Mahesh

04/09/22 07:30 AM IST

India Becomes 5th Largest Economy in the World

In News 
  • India has become the fifth largest economy in the world, beating the UK.
Major findings of the report 
  • According to Bloomberg Report, India outpaced England during the preceding three months of 2021.
  • The calculation is based on US dollars (current prices), and India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund.
  • Indian economy is forecast to grow more than 7% this year
  • The size of the Indian economy in “nominal” cash terms in the quarter through March was approx.. $855 On the same basis, the UK was $816 billion.
  • Top Economies in the World 1. The United States 2. China 3. Japan 4. Germany 5. India 6. The United Kingdom 7. France 8. Italy.
  • While the world is on the brink of a recession, India is growing by 7 per cent. There is inflation of 10 per cent in the UK, 9 per cent in the United States of America while in India it is 6-7 per cent, which is normal.
  • While India has overtaken the United Kingdom in terms of the size of the economy, the per capita income in India remains very low.
  • When it comes to per capita income, which is a measure of how much money is made per person in a country, India is ranked 122 out of 190 countries.
Source- Live Mint 

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