India’s GDP is expected to grow at 6.8 per cent in the next fiscal and the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion, Crisil Rating said. ADVERTISEMENT“After a better-than-expected 7.6 per cent this fiscal, India’s real GDP growth will likely moderate to 6.8 per cent in fiscal 2025,” said the Crisil India Outlook report. India, with a GDP size of $3.6 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany. According to World Bank’s definition, lower-middle income countries are those with per-capita income of $1,000-4,000, and upper-middle income countries are those with per capita income between $4,000-12,000. Crisil managing director and CEO Amish Mehta said, “By fiscal 2031, India will be the No.

Source: The Telegraph March 07, 2024 08:11 UTC