{"id":210637,"date":"2022-10-15T20:26:01","date_gmt":"2022-10-15T14:56:01","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=210637"},"modified":"2022-10-15T20:26:01","modified_gmt":"2022-10-15T14:56:01","slug":"through-a-40-year-prism-indias-record-creditable-but-not-outstanding","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/through-a-40-year-prism-indias-record-creditable-but-not-outstanding\/","title":{"rendered":"Through a 40-year prism: India&#8217;s record creditable, but not outstanding"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on an article\u00a0\u201c<strong>Through a 40-year prism: India&#8217;s record creditable, but not outstanding<\/strong>\u201d\u00a0published in\u00a0<strong>Business Standard <\/strong>on\u00a0<strong>15<sup>th<\/sup> October 2022<\/strong>.<\/p>\n<p><strong>Syllabus: GS 3 \u2013 Economic Development<\/strong><\/p>\n<p><strong>News<\/strong>: The International Monetary Fund (IMF) has come up with World Economic Outlook (WEO) report 2022.<\/p>\n<p><strong>What does the World Economic Outlook (WEO) report say?<\/strong><\/p>\n<p><strong>Performance of India in the Previous Decades<\/strong><\/p>\n<p>The comparative economic growth of the report shows that four countries are the best performers for 2011-21 decade. Four countries are &#8211; <strong>Bangladesh, China, Vietnam and India <\/strong>from top to bottom.<\/p>\n<p>China and Vietnam were also featured as the top performers for the previous decade.<\/p>\n<p>Further, <strong>India recorded best ever decadal growth performance in 2001-11<\/strong>. But its growth was slower than all emerging markets and developing countries in that decade.<\/p>\n<p>In the previous two decades, 1991-2001 and 1981-91 India performed better than the average emerging markets (EMs).<\/p>\n<p>In terms of dollars, the\u00a0Indian economy\u00a0grew to 3.7 times its size in the 2001-11 decade but only to 1.7 times in the latest decade.<\/p>\n<p>Further, the IMF report for four decades (1981-2021) highlights that only three countries (China, South Korea and Vietnam) did significantly better than India.<\/p>\n<p>It also highlights that India has significantly increased its GDP \u2013 1.1% (1981-91), 2.5% (2011), 3.3% (2021) and it is further expected to grow in the future.<\/p>\n<h5><strong>Growth projections by the report<\/strong><\/h5>\n<p>The Indian economy is set to grow 6.8 per cent whereas all EMs are expected to grow only 3.7 per cent in 2022-23.<\/p>\n<p>The growth for the advanced economies is expected to slow from 2.4 per cent to 1.1 per cent in the next year.<\/p>\n<p>4 Asian Countries including India, are the candidates for international businesses looking to diversify their production bases away from China by following \u201cChina+1\u201d strategy.<\/p>\n<p>Therefore, these data by the IMF reflects India\u2019s better position in the world even if the growth remain less than the expected for the year 2022-23.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on an article\u00a0\u201cThrough a 40-year prism: India&#8217;s record creditable, but not outstanding\u201d\u00a0published in\u00a0Business Standard on\u00a015th October 2022. Syllabus: GS 3 \u2013 Economic Development News: The International Monetary Fund (IMF) has come up with World Economic Outlook (WEO) report 2022. What does the World Economic Outlook (WEO) report say? Performance of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/through-a-40-year-prism-indias-record-creditable-but-not-outstanding\/\">Continue reading <span class=\"screen-reader-text\">Through a 40-year prism: India&#8217;s record creditable, but not outstanding<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-210637","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704763820},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/210637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=210637"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/210637\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=210637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=210637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=210637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}