India’s GDP expected to grow significantly

As per the provisional estimates of annual national income released by Central Statistics Office (CSO) on 31^st May 2018, the GDP at current market prices for the year 2017-18 is estimated to ₹ 167.7 lakh crore. Given the exchange rate of ₹ 64.45 per US Dollar for 2017-18, the GDP at current market prices is estimated to be US$ 2.6 lakh crore.

As per International Monetary Fund (IMF), India’s GDP is expected to increase to US$ 4.7 lakh crore by 2023. In case the economy grows at the same implied nominal rate as between 2017 to 2023, up to 2025, it is reasonable to expect the GDP to reach the level of US$ 5 lakh crore by 2025.

This was stated by Shri Pon Radhakrishnan, Minister of State for Finance in a Written Reply to a question in Lok Sabha.