Now just seven more years and India will be known as the third largest economy of the world ! In other words, the great news awaits your attention, India is to become a gigantic 7 trillion dollars economy.
It certainly is a breaking on Indian Economy since even last year in 2023 any such prediction was not possible..talk about pre-Modi-era, it was next to impossible even to think in this direction. But now the Crisil Report says it firmly.
And will be Numero Uno in 2047
‘Don’t be surprised,’ says the Crisil Report, ‘By the year 2031, India is going to become a 7 trillion dollars economy – This report of the rating agency CRISIL, is not emotional but a factual one which is based on data.
7 Trillion Dollars’ Indian Economy: This report by CRISIL is more realistic than amazing which clearly tells the world about the direction Indian Economy is going to. We now learn that now country’s of five trillion dollars has become small. India is moving towards a bigger target..
Standing today at the fifth GLOBAL ladder behind America, China, Germany, and Japan, India is a country which is already an economy of 3.94 trillion dollars. Now the target of five trillion dollars is not far away. On the other hand, the year 2031 awaits to see how India looks with a shining face and rising head after becoming the third largest economy of the world.
The recently released ET-CRISIL India Progress Report sends a shock wave to the anti-India sentiments and forces. Apart from giving the good news, the report also mentions that the impact of the efforts being made by the central government to reduce the fiscal deficit should also be visible on the arenas of the developing nation.
The third largest economy in the world
The size of the Indian economy is about to take a spectacular shape and the countrymen now have to wait only seven more years. By the year 2031, our nation will become a country with a vibrant economy of 7 trillion dollars. We will have become the third largest economy in the world.
Average annual growth rate crosses six and a half percent
After seven years, the average annual growth rate of India’s GDP will cross six and a half percent and will become 6.7 percent. Rating agency Crisil has given this information in one of its recent reports. Looking over the impact of capital expenditure along with productivity growth, the report further states that the annual growth rate from FY 2025 to FY 2031 will be similar to the average growth rate of 6.6 percent in the decade before the Corona epidemic. The reason for this extraordinary growth is the increase in national capital expenditure and productivity.
Estimated Growth Rate – 6.8 percent
The report also estimates that India’s Gross Domestic Product (GDP) growth rate is estimated to touch 6.8 percent mark in the current financial year. This is due to high interest rates and strict lending rules being in place. This has affected urban demand.
Estimated Inflation Rate – 4.5 percent
The Crisil India Progress Report also gives a forecast of inflation rate. The report says that the impact of the efforts being made by the Central Government to reduce the fiscal deficit should also be visible on development front. Inflation based on the Consumer Price Index (CPI) is estimated to touch an average 4.5 percent mark in 2024-25, and this estimate is lower than the average of 5.4 percent from the last year.
