India to cross China in GDP growth rate by 2017: IMF

According to IMF projections, India’s economic growth is expected to cross that of China by 2017.

According to IMF India’s economy is expected to grow at the rate 6.5% in 2016-17, while the rate for China will be 6.3%.

GDPs growth rates of important Countries

Country 2013 2014 2015* 2016*
Brazil 2.5 0.1 0.3 1.5
Russia 1.3 0.6 -0.3 -1.0
India 5.0 5.8 6.3 6.5
China 7.8 7.4 6.8 6.3
USA 2.2 2.4 3.6 3.3
World 3.3 3.3 3.5 3.7

*estimated figures

What is GDP?

  • Gross Domestic Product
  • The market value of all the finished goods and services produced within a country’s borders, in a year
  • GDP is commonly used as an indicator of the economic health of a country
  • What is GDP growth rate?

  • The rate at which a nation’s Gross Domestic product (GDP) changes/grows from one year to another
  • What is IMF?

  • The International Monetary Fund (IMF)
  • An international organization of 188 countries
  • Headquartered in Washington, D.C., in the United States
  • Works to achieve:
    1. Global monetary cooperation
    2. Secure financial stability
    3. Facilitate international trade
    4. Promote high employment
    5. Sustainable economic growth
    6. Reduce poverty around the world
  • Countries contribute funds to a pool through a quota system from which countries with payment imbalances can borrow