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HomeMoneyIndia's GDP will leave America behind on the new year

India’s GDP will leave America behind on the new year

The coming new year is going to be very special for India’s economy. India’s GDP is also going to overtake America, which is called the world’s richest country. If this happens, then it will be a relief news for every citizen of India. Let us tell you, brokerage firm Bank of America estimates that, in the next financial year, India’s GDP growth can be 8.2 percent. Along with this, it has also been warned that the new year will be more risky in terms of growth, inflation than the previous two. That is, the next year GDP will increase, along with it the public will also have to bear the brunt of inflation. With this, the growth of the agriculture sector will remain stable at around 4 per cent and the growth in the services sector will also remain strong. Taking all this together, the overall GVA growth will be 7 per cent, which is less than 8.5 per cent in FY 2022.

As per the report released on Friday, this gap is set to narrow in FY’22 as the subsidy is expected to be very less. This will bring the GDP-GVA growth gap back to 1.0-1.5 pbs in FY’23. In this way, we can all get to see the ups and downs in India’s economy.

Simultaneously, BofA forecasts assuming that there is no serious third wave in early 2022 and the pandemic crisis is to end in April. The policy repo rate will increase in June and the repo will be increased by 100 bps during the year. Along with this, it has been revealed in this report that India’s economy is going to become the fifth largest economy in the world. India is about to leave behind countries like America, Britain and France. If this happens then it will be a big achievement for India.

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