In the 75th year of our Independence, we have overtaken our colonial masters to become the fifth largest economy in the world. As the V shaped recovery after Covid contributed to this important milestone, now is a good point to analyse the path of the Indian economy. For this purpose, examine growth over a three-year period from 2019 to 2022 for the April-June quarter.
Among all major economies, India’s growth at 3.83% in the three-year period is highest followed by US 3.78%, Canada 2.58%, UK 1.06%, France 0.68%, Italy 0.21%, Germany 0.11% and Japan -1.27%. However, India’s growth rate being the highest over the three-year period reveals only a partial positive picture.
Fiscal boost’s impact: To understand the complete picture, recognise that countries across the world expanded fiscal spending enormously following Covid. So, the adjoining figure correlates GDP growth over a three-year period with the increase in inflation over the last one year when compared to the historical average of inflation in the country from 1960 to 2021.
We must use inflation over the last year as the impact of the huge fiscal expansion has manifested on inflation over the last year. Ignoring the outliers, India and Germany for now, we see a tight relationship between three-year growth and increase in inflation. This relationship manifests the fact that fiscal expansion prevented a more precipitous decline in GDP growth in these countries, on the one hand, and fuelled unprecedented inflation, on the other.
この記事は The Times of India Hyderabad の September 07, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Times of India Hyderabad の September 07, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Tollywood was happy hunting turf for conman
Kept Database Of Mobile Nos. Of Film Celebs
State-funded Metro to chug into RGIA in 3 yrs
Residents’ Plea To KTR To Extend Other Rail Lines
Rajiv Makhni becomes the face of smart tech luggage with proximity indicator
The VIP SmarTech series, a range of smart travel gear, keeps you connected with your luggage via your smartphone
I want to reach out to Samantha and tell her that if I can make it, so can you, says Vikram Bhatt
The filmmaker opens up about his 18-year-long battle with fibromyalgia, a chronic disorder that causes widespread muscle pain
Rain ruins second ODI
The match was reduced to 29-overs-a-side as the first interruption caused a four-hour break. India were 22 for no loss in the fifth over at that time.
Croatia come in hard, show Canada the exit
After their dour opening draw with Morocco had instigated a post-mortem into whether this Croatia side lacked a killer instinct, Kramaric and Marko Livaja found the net before the break to take the wind out of Canada’s sails.
Denmark calls on Euro 2020, Eriksen experience
Denmark has been here before.
Ronaldo targets KO berth
Win Vs Uruguay Will Help Portugal Advance With A Game To Spare
Govt doubles large aircraft wet lease period to 1 yr
Accordingly, IndiGo can now wet lease two twin aisles to operate flights between Delhi/Mumbai and Istanbul for a year.
Deuba's party emerges as single largest party in poll
Elections to the House of Representatives and seven provincial assemblies were held on November 20.