India set to become $2 trillion economy in 2014: IMF

[Omega007]

98!!! Why??


98!!! Why??
India supposed to become 2trillion economy before 2012!!! but we were doomed!!! too slow!!! now we need atleast 8% growth to make it grow faster!!! our next big target is 5tril!

Nothing serious,just curious.And about 8% growth is concerned,it will take time because the mess our previous government drove our country into will not be easy to clean.Give the new government a little bit more time,have patience.

 

[RKO]

Nothing serious,just curious.And about 8% growth is concerned,it will take time because the mess our previous government drove our country into will not be easy to clean.Give the new government a little bit more time,have patience.

ok...btw I thought u were to trolling me anyway im 17!

 

[waz]

Good going India.

 

[45'22']

It's indeed a great news

Good going India.

Thank you

 

[RKO]

It wasn't like we were doomed,not to forget the country has gone through 2 economic crises in 3yrs time,global economic crisesin 2008 &european crises in 2011, our base wasnt strong and we just couldn't hold of our economic growth after 2011 ,we could hv reached 2trill in 2012,but dipreciation of the rupee from 45 in 2011 to around 60 in 2012 and 68 in aug'13 cut our growth in DOLLAR terms and made it seem like the economy has remained stagnant fr the past 3yrs even though it was still growing in rupee terms,but now things have improve,we have a strong command over rupee now and enough reserves to not be effected from US tampering next year,which is said to hit ''emerging'' nations hard. 8% is no child play it will take time.even china slowed from 10% in 2011 to 7.5% in 2013,keep your fingures crossed,we will retain our 8% growth,hopefully

our economy is so vulnerable to international issues... we should focus on more sectors. ..esp manufacturing!

 

[Omega007]

ok...btw I thought u were to trolling me anyway im 17!

No bro,no such intention,especially against a fellow Indian.

our economy is so vulnerable to international issues... we should focus on more sectors. ..esp manufacturing!

Especially now when the INR has seen devaluation.

 

[farhan_9909]

It is expected that BD will surpass your economy in the next 4 years. What are your thoughts on this?

who told you this?

as per rough calculation if Pakistan growth rate remains 4.4% and Bangaldesh 6.2%,still bangladesh will surpass Pakistan GDP by 2032-35.

NOTE:Bangladesh changed the base year in 2013,while we will change it in 2016.

With the base year change bangladesh GDP was increased by 60Billion dollars in one year,Nigeria GDP got a increase of 140Billion dollars while in worst case scenerio our GDP will atleast increase 100-120Billion dollars with change in base year

Last time Pakistan GDP increased from 177billion dollars to 211Billion dollars with change in the base year

 

[damiendehorn]

who told you this?

as per rough calculation if Pakistan growth rate remains 4.4% and Bangaldesh 6.2%,still bangladesh will surpass Pakistan GDP by 2032-35.

NOTE:Bangladesh changed the base year in 2013,while we will change it in 2016.

With the base year change bangladesh GDP was increased by 60Billion dollars in one year,Nigeria GDP got a increase of 140Billion dollars while in worst case scenerio our GDP will atleast increase 100-120Billion dollars with change in base year

Last time Pakistan GDP increased from 177billion dollars to 211Billion dollars with change in the base year

As far as I know Pakistan uses the new base year 2006 to calculate its GDP, which they changed in 2013 and Bangladesh uses 2005 as its new base year. Not much difference, if Pakistan changes its base year again what will it change it too? 2010 or 2015.

The only reason we increased our GDP so drastically was because we used to use a really old base year of 1995. India uses 2010 as its base year, Pakistan uses 2006 and Bangladesh uses 2005.

http://tribune.com.pk/story/542169/calculation-of-economic-statistics-pakistan-bureau-of-statistics-okays-change-in-base-year/

 

[farhan_9909]

As far as I know Pakistan uses the new base year 2006 to calculate its GDP, which they changed in 2013 and Bangladesh uses 2005 as its new base year. Not much difference, if Pakistan changes its base year again what will it change it too? 2010 or 2015.

The only reason we increased our GDP so drastically was because we used to use a really old base year of 1995. India uses 2010 as its base year, Pakistan uses 2006 and Bangladesh uses 2005.

http://tribune.com.pk/story/542169/calculation-of-economic-statistics-pakistan-bureau-of-statistics-okays-change-in-base-year/

From the same link

Well i have heard Dar sahab saying it live on tv earlier this year or late last year that they will change the base year in 2016.i am expecting a increase of atleast 100Billion dollars this time,as per many source's our informal GDP is 1/3rd of the formal GDP

The current size of the economy, estimated as Rs23.6 trillion in 2012-13, has been calculated keeping the base year as fiscal 2000. Experts say its size will increase after new calculations, which will not only add additional value to this year’s growth rate, but also lower the budget deficit in percentage terms.

I believe it was approved by the caretaker govt last year in april(we had election in may) but wasn't done.could be the reason as to why ishaq dar wanted it to be in 2016.


Change of base year increases GDP by Rs557bn - thenews.com.pk

“They should wait for the next government and its finance minister who will be authorised to take such an important and fundamental decision on the economy,” he added. The rebasing exercise had created ripples during the last financial year and finally the former finance minister Dr Abdul Hafeez Sheikh had to reverse the decision.

And so i got another source from 2012.

it was planned even in 2012 but wasn't done.so its true that we are set to change the base year after 2004-5(Done under mushy)



Base year changed for accounts calculations - Newspaper - DAWN.COM

 

[damiendehorn]

From the same link

Well i have heard Dar sahab saying it live on tv earlier this year or late last year that they will change the base year in 2016.i am expecting a increase of atleast 100Billion dollars this time,as per many source's our informal GDP is 1/3rd of the formal GDP

I'm sorry last year (2013) when Pakistan changed the base year to 2006 Dr Sahab said they will change the base year in 2016! how? To what?

Your 2013/2014GDP is roughly $250bn with a base year of 2006 and your saying that by changing your GDP base year in 2 years you'll add at least $100bn.

Which nation calculates their "informal GDP" and how do you calculate "informal GDP"? India has massive "informal GDP" , Bangladesh has a massive "informal GDP"...

 

[Gandhi G in da house]

We should have done it n 2011. It is a bit later than expected.

Anyway, we have a chance to again get back to high growth rates. If things go well, we should cross most of the large European economies in the next few years.

The next 1-2 decades are going to be very exciting for India just like the last 2 decades have been, only more.

2012 was the projected year I believe.

 

[damiendehorn]

It is expected that BD will surpass your economy in the next 4 years. What are your thoughts on this?

It's highly unlikely BD will surpass Pakistans GDP in 4 years, remember the total population of Pakistan is higher the BD. The next 4-5 years we expect the percapita GDP to equal to Pakistans percapita GDP.

Let's hope all South Asia grows, and the people can make a decent living.

 

[Guynextdoor2]

It's highly unlikely BD will surpass Pakistans GDP in 4 years, remember the total population of Pakistan is higher the BD. The next 4-5 years we expect the percapita GDP to equal to Pakistans percapita GDP.

Let's hope all South Asia grows, and the people can make a decent living.

Pop is irrelevant- I'm not talking about per-capita here. GDP% growth is key. Because of political turmoil and mismanagement pak % is lower constantly for a long time. That is the key why BD will move ahead of Pak. And when that happens, your per-capita will also be higher because your pop is lower.

who told you this?

as per rough calculation if Pakistan growth rate remains 4.4% and Bangaldesh 6.2%,still bangladesh will surpass Pakistan GDP by 2032-35.

NOTE:Bangladesh changed the base year in 2013,while we will change it in 2016.

With the base year change bangladesh GDP was increased by 60Billion dollars in one year,Nigeria GDP got a increase of 140Billion dollars while in worst case scenerio our GDP will atleast increase 100-120Billion dollars with change in base year

Last time Pakistan GDP increased from 177billion dollars to 211Billion dollars with change in the base year

I think your growth rate will take a hit because of all the dharnas. I don't see how normalcy will return if every Imran Khan and Taheer-Ul-Qadri holds a gun to your government.

 

[cirr]

3 trillion USD in 2019？

Surely that's a very conservative estimate？

By 2019，China's will be a 20 trillion USD economy。

 

[Shishike]

@Chinese-Dragon hello chinese boy. China grew when india was under italian w!tch sonia gandhi. Mr Modi rules india now. China started to fall back and india set to take lead. Your president eleven pingpong is a insect front of mr modi. The data u showing is of when india was slave of w!tch sonia. Compare the data within 5 years when Mr modi completes first 5 years of rules. I bet within 3 to 4 years he will push back chinese growth. Modi the MAN u caged human being.

China grew when Indians kept talking.
and nowadays you still keep talking.
Fortune are created by hands, not mouths, but only few Indian knows that.