GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country.
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Real GDP is adjusted for price
changes and is therefore regarded as a key indicator for economic growth. In
2020, India's real gross domestic product growth was at about -7.97 percent
compared to the previous year.
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The 10 years if we see the data there is huge
change in growth rate because of a pandemic creates huge crises but after 2021
if we see the situation is not going fruitful because in future prospectus also
there are so many problems that arise from new viruses, so the economy takes time to work
in a great way in new key areas.
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2nd wave may lead to some reassessment of
economic growth estimates: Birla
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By 2025, India's population would be almost
equal to that of China, and it would still be growing at 1% per annum even
though the TFR for long-run population stabilization would have been nearly
reached by then.
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Economists generally agree that economic
development and growth are influenced by four factors: human resources,
physical capital, natural resources, and technology. Highly developed countries
have governments that focus on these areas.
·
"The infrastructure bottlenecks that exist
in India mean that investment in this area has the potential to unlock
significant productivity gains. Therefore, the outlook for the economy going
forwards will be closely related to the government's approach to infrastructure
spending.
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