Indian economy's worth expected to rise to $1.7 trn

[cirr]

More than 5 years after the 2008 world financial crisis，the Indian economy is expected to be back where it started. Congratulations！！

PTI New Delhi Last Updated: February 7, 2014 | 21:46 IST

India's per capita income is projected to soar by 10.4 per cent to Rs 74,920 in 2013-14 as the country becomes a $1.7 trillion economy.

Per capita income is calculated by evenly dividing the national income by the country's population.

However, the increase in per capita income would be only 2.8 per cent in 2013-14 if it is calculated on the basis of 2004-05 prices.

Per capita income (at 2004-05 prices) would be Rs 39,961 in 2013-14, against Rs 38,856 in the previous fiscal, according to the latest data on national income.

The size of the economy at current prices is projected to rise to Rs 105.39 lakh crore ($1.7 trillion)at the end of 2013-14 fiscal, up 12.26 per cent from Rs 93.88 lakh crore in FY 2012-13.

Based on 2004-05 prices, the Indian economy is projected to expand by 4.9 per cent in the 2013-14 fiscal. This is higher than 4.5 per cent growth in 2012-13.

The country's population is expected to increase to 123 crore by the end of March 2014, from 121.7 crore in March 2013.

According to the CSO's advance estimates, growth in electricity, gas and water production is likely to improve to 6 per cent in 2013-14 from 2.3 per cent in 2012-13.

The trade, hotel, transport and communication sectors are projected to grow by 3.5 per cent, as against 5.1 per cent in the previous financial year.

Community social and personal services growth would be better at 7.4 per cent, compared with 5.3 per cent previously.

The CSO releases advance GDP estimates before the end of the financial year to enable the government to formulate various estimates for inclusion in the Budget.

Per capita income in real terms (at 2004-05 prices) during 2013-14 is likely to attain a level of Rs 39,961 as compared to the first revised estimate for the year 2012-13 of Rs 38,856.

The growth rate in per capita income is estimated at 2.8 per cent as against the previous year's estimate of 2.1 per cent, CSO said.

Per capita income at current prices during 2013-14 is estimated to be Rs 74,920 compared with Rs 67,839 during 2012-13, a rise of 10.4 per cent.

Gross Fixed Capital Formation (GFCF), an indicator of investment, is forecast at Rs 32.2 lakh crore at current prices as against Rs 30.7 lakh crore in 2012-13.

At constant (2004-05) prices, GFCF is estimated at Rs 20.1 lakh crore in 2013-14 as against Rs 20.0 lakh crore.

In terms of GDP at market prices, the rates of GFCF at current and constant (2004-05) prices during 2013-14 are estimated at 28.5 per cent and 32.5 per cent, respectively, as against the corresponding rates of 30.4 per cent and 33.9 per cent, respectively in 2012-13.

The rate of expenditure on valuables at current prices has gone down from 2.6 per cent in 2012-13 to 2.1 per cent in 2013-14, the statement added.

Indian economy's worth expected to rise to $1.7 trn - Business Today

 

[Cyberian]

So, India's Nominal GDP has risen to $1.7 trillion in 2013 from $1.87 trillion in 2011.

Well done people.

List of countries by past and future GDP (nominal) - Wikipedia, the free encyclopedia

 

[farhan_9909]

Pakistan and India by 2050.Most recent projection

India GDP by 2050- 24.98trillion dollars
Pakistan GDP by 2050 -3.33Trillion dollars

It means India GDP will be 7.5times More than Pakistan while India Population is 6.7times more than Pakistan.

As per the prediction,Pakistan GDP with 3.33trillion dollars will have a per capita income of 20,500$.Considering the very small difference between the Indian GDP by 2050 and the population difference.

Hence Predicted
Indian Per capita income by 2050- 22,000-23,000$
Pakistan per capita income by 2050- 20,500$

*Many indians in the forum or else where think that by 2050 Common Indian will have per capita income many times more than a Common Pakistani but the fact is the difference will be extremely small in reality

*NOTE:THe prediction for Pakistan are made when it is growing with 4% and has bad economic condition.Hence the 3.33trillion dollars gdp by 2050 will be if pakistan remain under the same situation.

With improvement in the Economy,Pakistan has the potential to go upto 6trillion dollars by 2050,Meaning having a per capita income almost twice of common indian

BBC News - The Mint countries: Next economic giants?

 

[Gautam]

Pakistan and India by 2050.Most recent projection

India GDP by 2050- 24.98trillion dollars
Pakistan GDP by 2050 -3.33Trillion dollars

Hence Predicted
Indian Per capita income by 2050- 22,000-23,000$
Pakistan per capita income by 2050- 20,500$




BBC News - The Mint countries: Next economic giants?

As per last census, your population growth rate is roughly 3%. By this rate your population will be 598 million in 2050. So If your GDP in 2050 is $3.3 trillion, then the Per Capita GDP would be $ 5,500 (not $20,500!). And Yakeen Zaaniye, that is very SHARAMNAAK.

 

[Hypersonicmissiles]

China vs India (Share of Global GDP):

1990: 1.7% vs 1.5%
2000: 3.7% vs 1.5%
2010: 9.3% vs 2.7%
2018 (est): 14.2% vs 2.6%

 

[truthseeker2010]

As per last census, your population growth rate is roughly 3%. By this rate your population will be 598 million in 2050. So If your GDP in 2050 is $3.3 trillion, then the Per Capita GDP would be $ 5,500 (not $20,500!). And Yakeen Zaaniye, that is very SHARAMNAAK.

from where did u get this 3% figure and did u even know when did the last census of pakistan took place?

 

[airpower183]

Indian economy threads are banned as per rules.

China vs India (Share of Global GDP):

1990: 1.7% vs 1.5%
2000: 3.7% vs 1.5%
2010: 9.3% vs 2.7%
2018 (est): 14.2% vs 2.6%

As per last census, your population growth rate is roughly 3%. By this rate your population will be 598 million in 2050. So If your GDP in 2050 is $3.3 trillion, then the Per Capita GDP would be $ 5,500 (not $20,500!). And Yakeen Zaaniye, that is very SHARAMNAAK.

population growth increase GDP growth, but not by efficiency based instead by factor based.

 

[Lil Mathew]

Pakistan and India by 2050.Most recent projection

India GDP by 2050- 24.98trillion dollars
Pakistan GDP by 2050 -3.33Trillion dollars


*NOTE:THe prediction for Pakistan are made when it is growing with 4% and has bad economic condition.Hence the 3.33trillion dollars gdp by 2050 will be if pakistan remain under the same situation.

With improvement in the Economy,Pakistan has the potential to go upto 6trillion dollars by 2050,Meaning having a per capita income almost twice of common indian

Buddy... Check once more....
When your growth rate is 4%... Your 2050 GDP will be= 236 [(1+0.04)^37] = $ 1.007 Trillion
That is.. for become a 3.3 trillion dollar economy your country should maintain a growth of ~ 7.5% for next 37 yeas....

 

[HRK]

As per last census, your population growth rate is roughly 3%. By this rate your population will be 598 million in 2050. So If your GDP in 2050 is $3.3 trillion, then the Per Capita GDP would be $ 5,500 (not $20,500!). And Yakeen Zaaniye, that is very SHARAMNAAK.

I was not aware that lying is a necessary requirement for trolling .....

BTW with the current population growth rate of around 1.26% India will have an estimated population of around 2 Billion, now calculate how much rest room would be required .........

 

[Gautam]

I was not aware that lying is a necessary requirement for trolling .....

BTW with the current population growth rate of around 1.26% India will have an estimated population of around 2 Billion, now calculate how much rest room would be required .........

I wish you had told that to your countrymen too

from where did u get this 3% figure and did u even know when did the last census of pakistan took place?

I assumed it, just like @farhan_9909 assumed that Pakistan's per capita income in the year 2050 will be $20,000

Now I hope you wanna ask him from where did he get $20,000 figure!

By 2050, assuming 1.5% growth of Pakistan population, you will have roughly 309 million people. And as per the projection of the great farhan, pakistan economy will be $3.3 billion.

Now do the maths and tell me, how it comes to $20,000?

 

[airpower183]

I was not aware that lying is a necessary requirement for trolling .....

BTW with the current population growth rate of around 1.26% India will have an estimated population of around 2 Billion, now calculate how much rest room would be required .........

Indian economy is great, indian roads are great, Indian hygiene and sanitation is great, indian education is great, indian life expectancy is great, Indian healthcare is great, life in india is great.

 

[Gautam]

Indian economy is great, indian roads are great, Indian hygiene and sanitation is great, indian education is great, indian life expectancy is great, Indian healthcare is great, life in india is great.

You forgot BCCI. Its also great.

 

[Ayush]

Pakistan and India by 2050.Most recent projection

India GDP by 2050- 24.98trillion dollars
Pakistan GDP by 2050 -3.33Trillion dollars

It means India GDP will be 7.5times More than Pakistan while India Population is 6.7times more than Pakistan.

As per the prediction,Pakistan GDP with 3.33trillion dollars will have a per capita income of 20,500$.Considering the very small difference between the Indian GDP by 2050 and the population difference.

Hence Predicted
Indian Per capita income by 2050- 22,000-23,000$
Pakistan per capita income by 2050- 20,500$

*Many indians in the forum or else where think that by 2050 Common Indian will have per capita income many times more than a Common Pakistani but the fact is the difference will be extremely small in reality

*NOTE:THe prediction for Pakistan are made when it is growing with 4% and has bad economic condition.Hence the 3.33trillion dollars gdp by 2050 will be if pakistan remain under the same situation.

With improvement in the Economy,Pakistan has the potential to go upto 6trillion dollars by 2050,Meaning having a per capita income almost twice of common indian

BBC News - The Mint countries: Next economic giants?

lol,and the poulation ratio was about 1:10 in 1947.by 2050 your population is expected to be only 4-5 times less than india.
so u should calculate per capita on the basis of 2050 population projections.

 

[truthseeker2010]

I wish you had told that to your countrymen too





I assumed it, just like @farhan_9909 assumed that Pakistan's per capita income in the year 2050 will be $20,000

Now I hope you wanna ask him from where did he get $20,000 figure!

By 2050, assuming 1.5% growth of Pakistan population, you will have roughly 309 million people. And as per the projection of the great farhan, pakistan economy will be $3.3 billion.

Now do the maths and tell me, how it comes to $20,000?

dude you should try not to assume to much..... and that too till 2050, because as per indian's assumptions india should have been superpower by now or a middle income country by 2020 and so on and so fourth

 

[Gautam]

dude you should try not to assume to much..... and that too till 2050, because as per indian's assumptions india should have been superpower by now or a middle income country by 2020 and so on and so fourth

Man.... I was merely replying to farhan yaar