Steps to progress... Vinit Vartak ©

 Steps to progress... Vinit Vartak ©

According to the figures announced a few days ago, India surpassed Britain in terms of GDP. According to the financial criteria, it has jumped to the 5th position. The value of India's economy is approximately 3.5 trillion US dollars, while the value of Britain's economy is 3.2 trillion US dollars during the same period. After America, China, Japan, Germany, India has become the 5th largest economy in the world. While this is certainly very good news, we are still lagging behind in some respects. Financial figures are often deceptive. That is why G.D.P. What does that mean? What exactly does it say about a country's economy? Is India really progressing? If many such questions are coming in the minds of common people, these questions are address below.

GDP What is Gross National Income? In simple words, the aggregate value of goods and services purchased by people in a country during a particular period. The higher this purchase, the better the economy of a country is roughly considered. Here some things should be taken into account like inflation and import-export etc. So the figures are subject to change. So when India got independence in 1947, the value of Indian economy was 2.7 lakh crore rupees. The population of India was about 340 million (34 crores). If we do the math, the per capita income of almost every Indian is about 265 rupees. By 2022, the value of India's economy has crossed 3.5 trillion US dollars. But at the same time India's population has crossed 141 crores. If we do the math, the per capita income is almost Rs 1,28,829.

Considering the population of Britain, their GDP per capita is Almost 47,000 US dollars is huge. Therefore, although India has taken the lead in terms of numbers, we are far behind Britain in raising the overall standard of living. Despite all this, India will become the third largest economy in the world by 2029. In 2014, we were ranked 10th in the world. We have jumped 5 positions in the last 8 years. Looking at the growth rate of the Indian economy, we are going to be in a good position in the coming years. Around 1950, India had a foreign exchange of about US$ 1.82 billion. Today, India has a foreign exchange holding of US$ 573 billion. Which can easily meet the requirement of India for the next six months.

We are self-sufficient today in many ways. India today is the largest producer of milk, spices and jute in the world. It ranks second in the world in the production of rice, wheat, sugarcane, vegetables, fruits, cotton, coal and cement. Apart from this, it is the third largest producer of electricity in the world. If we look at the journey of the last 75 years, India has achieved some incredible things. There is still a long way to go. Considering India's population, it will take many years for us to overtake Britain or many other countries in terms of per capita income. Because the population of India is so huge that this is almost impossible. But at the same time India is making very good progress in overall gross national income. The standard of living of the citizens of India is gradually increasing. Till 1991, India was a closed economy. Since then India has emerged on the world stage as an open economy. Therefore, if we want to see the overall graph of Indian progress, we should consider the period from 1991 to 2022.

Jai Hind!!!

Photo Search Courtesy :- Google

Notice :- Wording in this post is copyright.