Sign In
Learn bits
Economy
Mahesh

04/09/22 07:30 AM IST

India Becomes 5th Largest Economy in the World

In News 
  • India has become the fifth largest economy in the world, beating the UK.
Major findings of the report 
  • According to Bloomberg Report, India outpaced England during the preceding three months of 2021.
  • The calculation is based on US dollars (current prices), and India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund.
  • Indian economy is forecast to grow more than 7% this year
  • The size of the Indian economy in “nominal” cash terms in the quarter through March was approx.. $855 On the same basis, the UK was $816 billion.
  • Top Economies in the World 1. The United States 2. China 3. Japan 4. Germany 5. India 6. The United Kingdom 7. France 8. Italy.
  • While the world is on the brink of a recession, India is growing by 7 per cent. There is inflation of 10 per cent in the UK, 9 per cent in the United States of America while in India it is 6-7 per cent, which is normal.
  • While India has overtaken the United Kingdom in terms of the size of the economy, the per capita income in India remains very low.
  • When it comes to per capita income, which is a measure of how much money is made per person in a country, India is ranked 122 out of 190 countries.
Source- Live Mint 

More Related Current Affairs View All

04 Aug

Maharashtra’s new security Bill

'The Maharashtra Legislature passed the Maharashtra Special Public Security Bill or a ‘Bill to provide for effective prevention of certain unlawful activities of Left Wing Ex

Read More

04 Aug

New Project to curb rhino poaching through radioactive isotope injections

'Recently, South African scientists injected radioactive material into live rhinoceros horns to make them easier to detect at border posts in a pioneering project aimed at curbing

Read More

04 Aug

National Sports Governance Bill

'Recently, the Ministry of Youth Affairs and Sports introduced the National Sports Governance Bill, 2025 in the Lok Sabha. ' The National Sports Governance Bill, 2025 draws from

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps