State of the Economy

  • India aims to grow into a USD 5 trillion economy by 2024-25, which will make it the third-largest economy in the world. To achieve the objective India needs to sustain a real GDP growth rate of 8%.
  • A growth slowdown has been on for three years. The loss of growth momentum in the three years from 2016-17 to 2018-19 is significant: 8.2%, 7.2% and 6.8%. GDP growth hit a 25-quarter low of 5% in the April-June 2019 quarter.
  • India is the sixth largest economy in the world.
  • Monetary Policy Committee (MPC) constituted in February, 2015 with the ....
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