India’s GDP growth rate is the highest over 2 years: Purohit

Tamil Nadu Governor Banwarilal Purohit said that India’s economy has gone on to become the sixth largest in the world. In PPP terms India is the third largest economy in the world, he said.
India’s GDP growth rate is the highest over 2 years: Purohit
Governor presents special awards at the event


Inaugurating the National Conference on “Economic Development of India in Global Perspective” organised by Ethiraj College for Women, Indian Economic Association and Tamil Nadu Economic Association here on Thursday he said that it is not going to take much time before India overtakes the United Kingdom too.
India’s Gross Domestic Product at 2.6 trillion dollars for 2017 according to the IMF, has overtaken the 2.5 trillion dollars’ milestone that separates big economies from pretenders he said and added that the GDP growth rate for the first quarter of the current fiscal year has zoomed to 8.2 per cent, the highest ever in over two years.
Recalling the Prime Minister’s State-funded health scheme, ‘Ayushman Bharat’ launched at Ranchi in Jharkhand, he said one can imagine not only the benefits to the poor but also to the economy when a health insurance scheme that has beneficiaries whose number is almost equal to the population of Canada, Mexico and the US put together, is implemented.
Purohit said Paul Bairuch, the economics historian has pointed out, “Two millennia ago, India stood at the top of the world on GDP. About 270 years back, China came first followed closely by India”. Indian Economists are continuing to work hard to find solutions for challenges India is facing like low per capita income, inadequate skilling of the population to get its demographic dividend and creation of more employment opportunities.  
The Governor further said that Economics is encountering methodological challenges due to sub-division and fragmentation. 
Abandoning holistic approaches in the study of economics is unreal. Involving and linking, not only mathematics and statistics but also History, Sociology and Philosophy with economics is a necessity. 
Purohit said Tamil Nadu has always had great role models in scholarly integrity as personified by Nakkeerar. 

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