India's Gross Domestic Product (GDP) has doubled over the past ten years, according to the latest data released by the International Monetary Fund (IMF). The report highlights that the country's GDP at current prices was $2.1 trillion in 2015 and is projected to reach $4.27 trillion by the end of 2025, marking a 100% increase in just a decade.
The IMF also noted that India’s real GDP growth rate for the current year stands at 6.5%, reflecting a strong and stable economic expansion. Real GDP growth refers to the increase in the value of goods and services produced in the country after adjusting for inflation. With this momentum, India remains one of the fastest-growing economies in the world. While economic growth remains strong, inflation continues to be a key factor influencing economic conditions. According to the IMF data, India’s inflation rate is expected to remain at 4.1%, which falls within the Reserve Bank of India's (RBI) targeted range of 4% to 6%. Inflation is a crucial indicator as it directly impacts purchasing power and the cost of living.
The report also highlights an improvement in individual prosperity, as India's GDP per capita measuring the average income per citizen—stands at $11,940 (or 11.94 thousand international dollars in terms of purchasing power parity). This suggests an enhancement in living standards over the years. However, the data also points to a high level of government borrowing.
India's general government gross debt currently stands at 82.6% of GDP, indicating a significant debt burden relative to the country's economic output. While high debt levels pose challenges for fiscal management, the Indian government has continued to meet its fiscal targets and sustain economic momentum.
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The latest IMF figures underscore India's strong economic resilience, driven by rapid GDP growth, steady real expansion, and rising income levels. However, inflation and public debt remain critical areas to monitor in the coming years. As India continues its growth trajectory, maintaining fiscal discipline and managing economic challenges will be essential for long-term stability. (With ANI inputs)