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%. T ....
Middle of paper
.... from 6.1% in 1994-95 to 4.9% in 1996-97 and was targeted down further to 4.5% for 1997-98, according to the 1997-98 budgetary estimates. But due to the Central Government’s turnover and runaway Government non-plan 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 tar ....
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Word count: 1062
Page count: 4 (approximately 250 words per page)
