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Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...
Moreover, the growth rate has demonstrated a slowing trend since 2016, prior to the onset of the COVID-19 pandemic. The term "Hindu rate of growth" was coined by the Indian economist Raj Krishna in 1978. It refers to the annual growth rate of India's economy before the economic reforms of 1991, which averaged 4% from the 1950s to the 1980s. [1]
India started recovery in 2013–14 when the GDP growth rate accelerated to 6.4% from the previous year's 5.5%. The acceleration continued through 2014–15 and 2015–16 with growth rates of 7.5% and 8.0% respectively. For the first time since 1990, India grew faster than China which registered 6.9% growth in 2015.
Over Modi's first year in office, the Indian GDP grew at a rate of 7.5%, [11] making India the fastest-growing economy in the world. For this the basis was a revised formula introduced a year after he took office, which surprised a lot of economists. [12] However, this rate of growth had fallen significantly to 6.1%, by his third year in office ...
The economy of Delhi is the 12th largest among states and union territories of India. The Nominal GSDP of the NCR was estimated at 272.603 Billion [1] and the Nominal GSDP of the NCT of Delhi for 2023-24 was estimated at ₹ 11.07 lakh crore (US$130 billion) [10] [11] recording an annual growth of 9.2%. Growth rate in 2014-15 was 9.2%.
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.