India's GDP Doubles to $4.2 Trillion Over the Last Ten Years: IMF Report

India's economy has shown impressive growth over the past decade, with its gross domestic product (GDP) doubling, according to the latest data presented by the International Monetary Fund (IMF).

In 2015, India's GDP was $2.1 trillion, and it is projected to reach $4.27 trillion by the end of 2025, marking a 100% increase over ten years. This growth reflects the steady expansion of India's economy and its position as one of the fastest-growing economies in the world.

Real GDP Growth and Inflation

IMF data also highlight that India's real GDP growth for the current year is expected to be 6.5%, indicating strong and stable economic expansion. Real GDP growth is the increase in the value of goods and services produced in the country, adjusted for inflation. India's ability to maintain such growth amid global uncertainties demonstrates its economic resilience.

Despite rapid economic growth, inflation remains an important factor in determining economic conditions. According to the data, inflation in the country is expected to be 4.1%, within the target range of the Reserve Bank of India (RBI) of 4 to 6%. This is a positive sign, as inflation affects purchasing power and the cost of living.

Improvement in Welfare and High Public Debt

The data also show an improvement in individual welfare, with GDP per capita estimated at $11,940 or 11.94 thousand international dollars in terms of purchasing power parity. This reflects a consistent improvement in the standard of living and average income of citizens.
However, the IMF report also notes that India's total public debt stands at 82.6% of GDP. This indicates a high level of government borrowing compared to the country’s economic output, which could create challenges in managing fiscal policy. Despite this, the government continues to meet its fiscal targets and sustain economic growth.

Looking Ahead

The latest economic data from India, presented by the IMF, highlight its impressive resilience with sharp GDP growth, stable expansion, and improved welfare. However, inflation and high public debt remain key factors to watch in the coming years, as they could impact the country's long-term economic stability. Follow “Zamin” news on “Telegram”