New Delhi: A relief news has come for the Modi government amid much negative news. India has become the fifth-largest economy in the world. With an economy of $ 2.94 trillion, India has surpassed Britain and France in the year 2019. PM Narendra Modi has set a target of making India a $ 5 trillion economy within the next five years.
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America's research institute World Population Review has stated in its report that with the earlier policy of becoming self-reliant, India is now progressing as an open market economy. The report states that 'India has become the fifth-largest economy in the world with $ 2.94 lakh crore (trillion) in terms of gross domestic product (GDP). In this case, it has also defeated Britain and France in 2019.
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According to the news agency PTI, the size of the UK economy is $ 2.83 trillion, while the economy of France is $ 2.7 trillion. India's GDP on the basis of purchasing power parity (PPP) is $ 10.51 trillion and is higher than in Japan and Germany. However, due to the high population in India, the GDP per capita is just $ 2170. At the same time, the GDP per capita in the US is 62,794 dollars. The report also stated that India's real GDP growth rate may continue to be weak in the third quarter and may remain around 5%.
