According to data released by the World Bank in Washington, Indian economy crosses $2 trillion mark. The Indian GDP at current prices for 2015-16 is estimated around at Rs. 135.76 lakh crore ($2.2 trillion) which is growing by 8.7% over the first revised estimates of GDP of Rs. 124.88 lakh crore for 2014-15 as per the Central Statistics Office (CSO)
Proving the fastest-growing-economy tag India has added one trillion to its economy. India’s gross national income per person has risen to $1,610, which converts to Rs 1,01,430 by present exchange rate. Improved farm output through having years of drought in different states of country, better manufacturing, mining and electricity production along with some major decisions by Prime Minister in last two years cheered growth.
Good monsoon, More Growth
Following the drought in many states, good monsoon and increase in manufacturing and consumption could help India regain its 8 per cent growth rate this fiscal year.