India's GDP explosion instead of base year: World 4th position possible
New Delhi, December 22: India is changing the base year for GDP, inflation, and industrial production. A new series of economic data (Macro economic data) covering these elements will be released for 2026. As part of this process, the Union Ministry of Programme Implementation and Statistics will conduct workshops with relevant organizations and individuals. This pre-release workshop will be held at Bharat Mandapam in Delhi.
The base year for inflation calculation is 2024=100. The base year for national accounts is 2022-23. The base year for IIP calculation is 2022-23. The base year for GDP is 2022-23. Information exchange and discussions are expected to take place in the workshop on this change.
Will India's GDP rate increase?
India had recently changed the base year used for calculating its GDP from 2004-04 to 2011-12. Now, there is a proposal to change the base year from 2011-12 to 2022-23. The advantage of updating the base year is that it will be able to capture the changes that have occurred in recent years. That is, economic activities can be identified more accurately.
If India updates its base year, the country's GDP rate is expected to increase by 50 to 100 basis points. India's total GDP number may increase. Per capita income may also increase.
According to an estimate, GDP per capita is Rs 1.96 lakh, which can increase to Rs 2.15 lakh. If it increases a little more, India will be able to join the World Bank's upper middle income group. The size of India's economy may be about $ 4.4 trillion. In that case, India will overtake Japan and become No. It may be 4. It won't take India long to reach Germany's $5 trillion size.
You Might Also Like
-
Do you have torn notes? Don't worry. According to RBI rules, notes worth more than Rs. 10 can be...
-
Infosys, a major IT company in the country, is reportedly conducting an off-campus recruitment dr...
Leave A Comment
Comments