New Delhi: India has achieved a great position on the economy front. Now India has overtaken Britain to become the 5th largest economy in the world. Britain has slipped from fifth place to sixth place. The UK is currently facing a difficult period due to rising cost of living. In such a situation, its slipping to sixth place is considered a big setback for the UK government. India, once a British colony, has overtaken Britain to become the world's fifth largest economy in the last three months of 2021. Let us tell you that this calculation of the economy has been done on the basis of the US Dollar.

Along with this, according to the data of the International Monetary Fund (IMF), India has strengthened its growth in the first quarter on the basis of GDP figures. At the same time, the sliding of Britain on the front of the economy will be a big setback for the future government of the UK. Members of the Conservative Party in Britain are going to choose a new Prime Minister soon. In such a situation, inflation and sluggish economy will be the biggest challenge for the new government. On the other hand, experts believe that the growth rate of the Indian economy can be above 7 percent in the current financial year.

If we look at the economy of India and Britain in dollars, then according to IMF data, India's economy was $854.7 billion in the March quarter. At the same time, Britain was at $816 billion. The figures are telling that even though the economies of the whole world are facing recession and inflation, the Indian economy is progressing at a fast pace, overcoming all the challenges. 

Data for the quarter of June:-

According to the official GDP figures for the first quarter released this week, the Indian economy grew at an impressive 13.5 per cent in the June 2022 quarter. Many estimates were also expecting a similar figure from India. US GDP declined by 0.6 percent during the June quarter. Earlier in the March quarter, the size of the US economy shrank by 1.6 per cent. 

Growth of Indian Economy:-

Let us inform you that earlier in the fourth quarter of the financial year 2021-22 (Q4FY22), India's Gross Domestic Product (GDP) grew at the rate of 4.1 per cent. Talking about the entire financial year, during 2021-22, the growth rate of GDP was recorded at 8.7 percent. According to the data of the National Statistical Office (NSO), the Indian economy grew at a rate of 13.5 per cent in the June 2022 quarter. 

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