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The Growth Of Gross Domestic Product
Beginning of paper
The new paradigmatic shifts, since the liberalisation process took off, after unshackling the socialistic edifice, has brought a perceptible change in the Indian economy. The growth in real Gross Domestic Product (GDP) during the last three years, i.e. during 1994-1997, ranged from 7.2% to 7.5%. The current year, 1997-98 is an exception .... Middle of paper
.... expenditure, it is estimated to have ballooned to 6.1% of the GDP.
The rate of inflation, measured by the Whole Sale Price Index, decreased from 10.4% in 1994-95 to 5.0% in 1995-96 and has been hovering around this figure till date. Consistent with this, broad money M-3 targeted to grow by 15% to 15.5% during 1997-98, shot up to 17% in the same year.
The balance of payments situation in 1997-98 remained sound. The current account deficit ....
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Number of words: 1062
Number of pages: 4 (approx. 250 words per double-spaced page)
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