Will Bharat (India) Surpass China @2047?
Dr. T. Peddanna
Associate Professor of Commerce Working at Government Degree College Morthad M&V Morthad District Nizamabad, 503225
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http://doi.org/10.37648/ijps.v21i03.020
Abstract
It examines the GDP at the current US dollar, GDP growth, GDP per capita, and the inflation rate of India and China from 2000 to 2024 by using descriptive statistical tools of Mean, Median, Regression and Time series for estimation of GDP value, GDP per capita, GDP growth rate at 2047, it is found that average growth rate of GDP and Per capita of India stood at second place when compared to the China during the study period of 25 years. As per time series estimation of GDP at 2047 is 7 trillion as against China estimation of GDP is 42 trillion, as well as per capita of India is 4735 US dollar as against the China estimation is 27268 US dollar, India needs 6 times GDP growth rate to surpass China at 2047. The inflation of India stands higher. It is hardly required to retain an adjustable balance between inflation and GDP with accelerated fiscal and monetary policy to achieve targeted GDP in the future by boosting of AI powered manufacturing, Healthcare, Agriculture, Telecom, E-Commerce and other allied industries of GDP constituents, The main conclusions of this study highlight significantly boost in productivity, expand employment possibilities, and drive GDP in rapidly to occupy first place in all the macro parameters in the future to come
Keywords:
GDP; GDP Growth Rate; GDP Per capita; Inflation; Mean; Standard Deviation; Regression
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