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prelims Test Series 2019
बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
India is Now $2 Trillion Economy
Jul 06, 2015

  • According to a World Bank report, India's GDP crossed the $2-trillion mark in 2014 and at present stands at $2.067 trillion.

  • After taking 60 years to reach the $1-trillion mark, India added the next trillion in just seven years.

  • India’s gross national income per person rose to $1,610 (around Rs. 1 lakh) a year during 2014 from $1,560 the previous year. 

  • India’s growth rate, at 7.4 per cent in 2014, makes it the fastest growing major economy along with China’s, which is a whopping $10.4 trillion in size. 

  • The Indian economy, at $2.06 trillion, has almost doubled in size since the financial crisis hit the country in 2008, and has more than quadrupled from the start of this millennium.

  • Despite its increase in per capita gross national income (GNI), India has remained in the ‘lower middle income’ category ($1,046-$4,125). 

  • India’s average annual growth rate over the last decade has been 8.9 per cent and it would become an ‘upper middle income’ country ($4,126-$12,735) in 2026.

  • China, however, with a per capita GNI of $7,380 and an average annual growth of 15.6 per cent, will leave the ‘upper middle income’ category by 2018 to become a ‘high income’ country like the U.S., the U.K., Germany and Japan. 

  • It will take India till 2039 to reach that level, at the assumed growth rate.

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