The position of India in terms of the economy has always been a matter of concern. Since long, India is the fastest growing economy in the world, but as we can see in the cut through competition there is a great need that India should focus on to do better. As per the reports, India’s economy was 7.6% in the year until the end of the month of the march. The low oil prices have boosted the annual economy of 2016. With this number Indian Economy has made to stand as the world’s fastest growing economy. The India with such a high growth number has successfully made to outpaces China. With the comparison of GDP to the previous years, it has been seeing that the results are growing on a rapid pace. In the year 2015-16, in the first quarter GDP was around 7.5 %, then 7.6 % in the next quarter then 7.2 % and 7.9%. It has been found that the growth of Indian economy is based on the lower energy prices as well as from the higher real income.
In the modern era, despite the advanced and emerging economies, India has managed to hold its ranking. The times when the Indian economy is 7.9 % the China has reported being 6.7 %. The growth in the farm sector, electricity, water, gas production, agriculture, forestry and fishing has been revised. Not only this, in addition to the manufacturing sector’s growth has also been revised which has added more to the Indian economy.
India has become a platform for many around the globe to trade. The best trading opportunities are provided here with an aim to attract the thousands from the corners of the world to make them earn profits so that they will invest in India. Keeping in mind the position of Indian economy at the top, a survey was conducted to get an idea about the % of growth for the year 2016-17, and it was projected with a band of 7-7.5 percent growth.
With the world-beating economic performance, the Indian government is making efforts to progress. It has been estimated that until the first half of the next year 2017, the India should be able to achieve its 5% consumer inflation target. To be in the race, the government of India needs to pay more attention to its monitory policies.