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India to become fifth largset economy in 2018
Context
India is set to overtake the United Kingdom and France to become the world’s fifth largest economy next year, a report said Tuesday
News
Currently ranked seventh, India will move up to fifth place in 2018 and vault to third spot by 2032, the Centre for Economics and Business Research, a London-based consultancy, said in its annual rankings
3 year low
The Indian economy hit a three-year low in the first quarter of the current financial year, due to demonetisation ‘in November 2016 to scrap high-value banknotes and following a tax overhaul
- Growth slumped to 5.7% for the three months ending June but recovered slightly to 6.3% for the quarter ending September
