India has got a big success on the economic front. In the list of world’s largest economies, India has occupied the 5th place, beating Britain.
India has achieved a great position on the economy front. Now India has overtaken Britain to become the 5th largest economy in the world. Britain has slipped from fifth place to sixth place. The UK is currently facing a difficult period due to rising cost of living. In such a situation, its slipping to sixth place is considered a big setback for the UK government. India, once a British colony, has overtaken Britain to become the world’s fifth largest economy in the last three months of 2021. Let us tell you that this calculation of the economy has been done on the basis of the US Dollar.
Along with this, according to the data of the International Monetary Fund (IMF), India has strengthened its growth in the first quarter on the basis of GDP figures. At the same time, the sliding of Britain on the front of the economy will be a big setback for the future government of the UK. Members of the Conservative Party in Britain are going to choose a new Prime Minister soon. In such a situation, inflation and sluggish economy will be the biggest challenge for the new government. On the other hand, experts believe that the growth rate of the Indian economy can be above 7 percent in the current financial year.
If we look at the economy of India and Britain in dollars, then according to IMF data, India’s economy was $854.7 billion in the March quarter. At the same time, Britain was at $816 billion. The figures are telling that even though the economies of the whole world are facing recession and inflation, the Indian economy is progressing at a fast pace, overcoming all the challenges
According to a Bloomberg report, calculated in US dollars, India has overtaken Britain in the last quarter of 2021. Apart from this, it has also been told in the GDP data of International Monetary Fund (IMF) that India has strengthened its GDP. Bloomberg has released this report based on data released by the IMF and the dollar exchange rate at the end of March quarter.
According to a Bloomberg report, the size of the Indian economy has grown to $854.7 billion in nominal cash, compared to the size of the UK economy at $816 billion in the comparable period. Economic experts predict that in the coming times, India will strengthen its growth in comparison to the British economy.
Significantly, India has recently released the GDP figures for the first quarter of the current financial year. These figures also show that the Indian economy is growing rapidly. The GDP growth rate in the first
