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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
India GDP Growth (1961-2023)
India's economic growth trajectory from 1961 to 2023 highlights key periods of expansion and contraction. The liberalization reforms in the early 1990s set the stage for a decade of growth, reaching 8.8% in 1999. The mid-2000s brought consistent expansion, peaking at 8.5% in 2010 due to infrastructure development and rising consumption. However, 2020 marked a sharp decline of -5.8% due to the pandemic, but India quickly rebounded, recording 9.7% growth in 2021. By 2023, the GDP growth rate stabilized at 7.6%, driven by continued industrial and digital sector growth.
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