50 Years of Economic Growth - GDP India

 50 Years of Economic Growth - GDP India 

The Country's GDP was 0.4 Percent in the Third quarter of the current fiscal year 2020-21. This is the first time that the positive growth has been reported Since the Covid-19 (Coronavirus) Lock down in India. The Economic growth fell by -24.4 Percent in the first quarter and -7.3 Percent in the Second quarter of this year.

It was also said to be the biggest slump and fall Since 2013. Economic growth in October - December 2020 was 0.4 Percent, driven by the Economic Stimulus and Temporary High Consumption. However the country's GDP as a whole year will end in the Negative Territory.

The Retail Inflation - Consumer price index(CPI) was as low as 4.06 Percent in January 2021, despite rising prices in the aftermath of the Corona Curfew. This is the lowest level seen in the last 15 months. India's Retail inflation averaged 6-8 Percent. It is noteworthy that the short term target of the Central Bank (RBI) on CPI Retail Inflation is said to be as 2-6 Percent.

Economic Recession is generally defined as a Country's GDP, which has two consecutive quarters of Negative growth. In that sense, the April-June and July-September quarter of the year 2020-21 saw negative economic percentage. Then the Indian economy was said to be entered into the Recession.

As per the recent data, the GDP growth has shown as Positive. At the same time it did not reach the level expected by the Market. The Covid-19 Lock down period is said to be the Biggest Economic Downturn in the last 50 years. 

Taking into account the period 1951-2020, the Indian economy has had a maximum economic growth of 11.40 Percent in March 2010 Quarter and the biggest decline of -24.40 Percent in the June 2020(Covid-19 period).

GDP India Since 1960

 

 

The 10 years Govt Bond yield is trading in the range above 6 Percent. The Central Govt has already set a Target of USD 5 Trillion Economy for the year 2024-25. By achieving this, India will become the Third largest economy in the World.

Currently, United States ranks first and China in the second in the World Economy. India is expected to grow tremendously in the next 10-20 years in terms of Consumption. At present, India is mostly depending on Service Sector. The Service sector contributes 54.77 Percent, Industry 27.47 Percent and Agriculture with 17.76 Percent.

The Public Sector, Military Service and other related services accounted for 15.74 Percent in the Service Sector. Finance, Housing and Professional services contributed with 20.95 Percent, while Trade, Restaurants, Transport and Telecommunication accounted for 18.08 Percent in the Service Sector.

Agriculture, Forestry and Fisheries were contributing 17.76 Percent in the Agriculture sector. Industrial production accounted for 15.13 Percent, Mining and Quarry 2.14 Percent, Electricity, Gas, Drinking water and other utilization 2.65 Percent and Construction with 7.55 Percent.

In the year 1950-51, India have a 52 Percent on Agriculture, 33 Percent on Services and 15 Percent on Industrial Sector. In Simple words, India is a Middle income developing market economy.

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