{"id":229801,"date":"2023-03-04T20:04:01","date_gmt":"2023-03-04T14:34:01","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=229801"},"modified":"2023-03-04T20:04:01","modified_gmt":"2023-03-04T14:34:01","slug":"which-is-the-cheetah","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/which-is-the-cheetah\/","title":{"rendered":"Which is the cheetah?"},"content":{"rendered":"\n

Source<\/strong>: The post is based on an article\u00a0\u201cWhich is the cheetah?\u201d<\/strong> published in Business Standard<\/strong> on\u00a04th<\/sup> March 2023<\/strong>.<\/p>\n

Syllabus: GS 3 \u2013 Indian Economy<\/strong><\/p>\n

Relevance: <\/strong>India\u2019s economic growth and associated concerns<\/p>\n

News<\/strong>: The article compares the economy of India and China and it also provides highlights towards India\u2019s projected economy.<\/p>\n

How has the Indian economy performed compared to China in the past years?<\/strong><\/h2>\n

India’s economy has grown faster than China\u2019s in the year 2021 and 2022.<\/p>\n

For example,<\/strong> India\u2019s economy grew at 7% compared to China\u2019s which was at 3% for the year 2022. Similarly, in 2021, India\u2019s economy grew at 9.1% while China\u2019s was at 8.1%.<\/p>\n

For the years 2014-2018, India outpaced China for the first time with an average 7.4 percent growth<\/strong>, while China managed 7 percent. This gave India the image of the world\u2019s fastest-growing large economy.<\/p>\n

However, things changed during the Covid period. For the years 2019 and 2020, China managed to do better than India.<\/strong> China grew by 6 percent in 2019 compared to India\u2019s 3.9 percent for 2019-20.<\/p>\n

Therefore, there was a large gap between the economies of the two nations for the Covid period. This benefited China to outpace India in average economic growth.<\/p>\n

What are the different projections of China\u2019s and India\u2019s economic growth?<\/strong><\/h2>\n

Economic forecasters have held that India would do significantly better than China in 2023-24. For example,<\/strong> the International Monetary Fund postulated China\u2019s growth at 4.4 percent against 6.1 percent for India.<\/p>\n

However, the projections changed after China gave up its zero-tolerance policy on Covid.<\/p>\n

This led forecasters to project higher economic growth for China in 2023. Most have moved up their China forecast to 5.5 percent.<\/p>\n

However, when compared to the growth projection given by this year\u2019s Economic Survey (2022-23), the projection for China is below that of India\u2019s.<\/p>\n

The Economic Survey has kept India\u2019s economic growth between 6.0-6.8 percent for the year 2023-24.<\/strong><\/p>\n

However, there is a doubt over the economic forecast projected by the Economic Survey after looking at India’s GDP growth for the quarter October-December.<\/p>\n

What are the concerns with India\u2019s economic growth?<\/strong><\/h2>\n

The GDP growth for October-December was only at 4.4 percent<\/strong>.<\/p>\n

Further, there is no sign of the economic growth<\/strong> that would take India from a 5 percent growth to 6 percent and more as stated by the Survey.<\/p>\n

India also has serious trade and fiscal imbalances and excessive dependence on capital expenditure<\/strong> by the government.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on an article\u00a0\u201cWhich is the cheetah?\u201d published in Business Standard on\u00a04th March 2023. Syllabus: GS 3 \u2013 Indian Economy Relevance: India\u2019s economic growth and associated concerns News: The article compares the economy of India and China and it also provides highlights towards India\u2019s projected economy. How has the Indian economy… Continue reading Which is the cheetah?<\/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-229801","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":1704811549},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/229801","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=229801"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/229801\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=229801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=229801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=229801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}