Source | Economic Survey (2022-23) |
Ministry of Statistics and Programme Implementation | |
World Bank : Growth, Growth per capita | |
IMF World Economic Outlook (April 2024) | |
Date | 28 Aug 2024 |
According to the IMF World Economic Outlook (April 2024), India's GDP growth rate in 2024 is projected at 6.808%. India is at 8th position out of 195 economies. With a 7.827% expansion in 2023, India is at the 8th position. It is second fastest growing Asian economy.
India was among the top ten growing economies in two years, 2016 (9th out of 205) and 2015 (9th out of 206).
Real GDP growth or Gross Domestic Product (GDP) growth of India at constant (2011-12) prices in the year 2023-24 is estimated at 7.58 percent compared to the growth rate of 6.99 percent in 2022-23. In 2022-23, India has recorded the 2nd highest growth rate in past 7 years.
GDP growth rates at current prices in 2023-24 is 9.05%, India has recorded the 3rd lowest nominal growth rate since year 2011-12.
In the 2011-12 series, the average growth rate from 1951 to 2023 stands at 5.03%, reaching an all-time high of 9.63% in 1988-89 and a record low of -5.83% in 2020-21. In 6 years, growth was negative.
In the 2011-12 series, the average per capita growth rate in period 1951-2023 stands at 3.1%, reaching an all-time high of 8.00% in 2021-22 and a record low of -7.51% in 1979-80. In 10 years, gdp per capita growth rate was negative.
Year | GDP Growth rate(%) |
---|---|
2023 | 7.827 |
2024 | 6.808 |
2025 | 6.458 |
2026 | 6.467 |
2027 | 6.477 |
2028 | 6.486 |
2029 | 6.495 |
Year | Growth rate (%) | Rank/Total | ||
---|---|---|---|---|
Growth | Per capita growth | GDP | GDP per capita | |
1961 | 3.723 | 1.360 | 66/105 | 65/104 |
1962 | 2.931 | 0.579 | 84/110 | 82/109 |
1963 | 5.994 | 3.575 | 45/110 | 48/109 |
1964 | 7.453 | 5.008 | 35/110 | 36/109 |
1965 | -2.636 | -4.788 | 106/110 | 105/109 |
1966 | -0.055 | -2.183 | 99/115 | 96/114 |
1967 | 7.826 | 5.555 | 24/118 | 20/117 |
1968 | 3.388 | 1.170 | 87/119 | 87/118 |
1969 | 6.540 | 4.218 | 50/119 | 56/118 |
1970 | 5.157 | 2.859 | 67/119 | 68/118 |
1971 | 1.643 | -0.586 | 116/142 | 112/141 |
1972 | -0.553 | -2.744 | 128/142 | 129/141 |
1973 | 3.296 | 0.996 | 96/142 | 95/141 |
1974 | 1.185 | -1.074 | 120/142 | 123/141 |
1975 | 9.150 | 6.734 | 14/143 | 17/142 |
1976 | 1.663 | -0.558 | 110/145 | 112/144 |
1977 | 7.255 | 4.912 | 41/146 | 42/145 |
1978 | 5.713 | 3.399 | 66/151 | 72/150 |
1979 | -5.238 | -7.322 | 144/151 | 140/150 |
1980 | 6.736 | 4.349 | 37/152 | 42/151 |
1981 | 6.006 | 3.621 | 39/161 | 45/160 |
1982 | 3.476 | 1.163 | 44/163 | 56/162 |
1983 | 7.289 | 4.893 | 17/165 | 17/164 |
1984 | 3.821 | 1.498 | 82/165 | 85/164 |
1985 | 5.254 | 2.914 | 43/168 | 51/167 |
1986 | 4.777 | 2.461 | 63/169 | 69/168 |
1987 | 3.965 | 1.692 | 73/171 | 79/170 |
1988 | 9.628 | 7.259 | 25/174 | 32/173 |
1989 | 5.947 | 3.674 | 41/175 | 50/175 |
1990 | 5.533 | 3.298 | 45/176 | 57/176 |
1991 | 1.057 | -1.045 | 114/194 | 111/194 |
1992 | 5.482 | 3.317 | 58/194 | 58/194 |
1993 | 4.751 | 2.627 | 58/195 | 67/195 |
1994 | 6.659 | 4.525 | 38/195 | 48/195 |
1995 | 7.574 | 5.453 | 28/196 | 41/196 |
1996 | 7.550 | 5.471 | 36/197 | 44/197 |
1997 | 4.050 | 2.072 | 109/197 | 115/197 |
1998 | 6.184 | 4.199 | 41/199 | 53/199 |
1999 | 8.846 | 6.851 | 19/199 | 20/199 |
2000 | 3.841 | 1.966 | 114/199 | 128/199 |
2001 | 4.824 | 2.945 | 55/200 | 65/200 |
2002 | 3.804 | 1.976 | 89/200 | 87/200 |
2003 | 7.860 | 6.017 | 32/204 | 36/204 |
2004 | 7.923 | 6.133 | 39/204 | 47/204 |
2005 | 7.923 | 6.206 | 33/204 | 40/204 |
2006 | 8.061 | 6.426 | 40/204 | 44/204 |
2007 | 7.661 | 6.094 | 49/205 | 54/205 |
2008 | 3.087 | 1.631 | 122/205 | 115/205 |
2009 | 7.862 | 6.372 | 17/208 | 10/208 |
2010 | 8.498 | 7.013 | 22/208 | 23/208 |
2011 | 5.241 | 3.818 | 72/208 | 74/208 |
2012 | 5.456 | 4.061 | 57/208 | 53/208 |
2013 | 6.386 | 5.015 | 35/208 | 30/208 |
2014 | 7.410 | 6.086 | 17/209 | 12/209 |
2015 | 7.996 | 6.721 | 11/209 | 8/209 |
2016 | 8.256 | 6.981 | 9/208 | 8/208 |
2017 | 6.795 | 5.568 | 25/209 | 23/209 |
2018 | 6.454 | 5.302 | 20/210 | 21/210 |
2019 | 3.871 | 2.812 | 79/209 | 70/209 |
2020 | -5.778 | -6.673 | 131/209 | 130/208 |
2021 | 9.690 | 8.819 | 34/208 | 36/207 |
2022 | 6.987 | 6.262 | 41/202 | 36/201 |
2023 | 7.584 | 6.721 | 9/186 | 6/179 |
Year | Growth rate (%) at 2011-12 prices | Growth rate (%) at current prices (%) | ||||||
---|---|---|---|---|---|---|---|---|
GDP | GVA | GNI | NNI | GDP | GVA | GNI | NNI | |
1951-52 | 2.95 | 2.33 | 3.08 | 3.79 | 6.27 | 5.58 | 6.35 | 6.35 |
1952-53 | 2.63 | 2.84 | 2.67 | 3.28 | -1.84 | -1.38 | -1.75 | -1.84 |
1953-54 | 6.15 | 6.09 | 6.19 | 7.02 | 8.85 | 8.89 | 8.93 | 9.97 |
1954-55 | 4.81 | 4.25 | 4.75 | 6.59 | -5.43 | -6.06 | -5.52 | -5.11 |
1955-56 | 3.24 | 2.56 | 3.35 | 3.48 | 1.80 | 1.61 | 1.98 | 1.71 |
1956-57 | 5.58 | 5.69 | 5.55 | 5.68 | 19.14 | 19.38 | 19.10 | 19.76 |
1957-58 | -0.41 | -1.21 | -0.46 | -0.63 | 2.97 | 2.23 | 2.96 | 2.54 |
1958-59 | 7.39 | 7.59 | 7.35 | 7.47 | 11.47 | 11.86 | 11.38 | 11.52 |
1959-60 | 2.62 | 2.19 | 2.49 | 2.50 | 5.36 | 5.04 | 5.23 | 5.19 |
1960-61 | 5.50 | 7.08 | 5.45 | 5.81 | 9.51 | 9.47 | 9.45 | 9.65 |
1961-62 | 3.72 | 3.10 | 3.62 | 3.60 | 5.95 | 5.53 | 5.83 | 5.56 |
1962-63 | 2.93 | 2.12 | 2.88 | 2.77 | 7.47 | 6.93 | 7.45 | 7.43 |
1963-64 | 5.99 | 5.06 | 6.02 | 6.10 | 14.85 | 14.28 | 14.91 | 15.12 |
1964-65 | 7.45 | 7.58 | 7.35 | 7.41 | 16.64 | 16.83 | 16.58 | 16.74 |
1965-66 | -2.64 | -3.65 | -2.69 | -3.11 | 5.45 | 4.71 | 5.41 | 5.08 |
1966-67 | -0.06 | 1.02 | -0.04 | -0.44 | 13.21 | 13.82 | 13.05 | 12.84 |
1967-68 | 7.83 | 8.14 | 7.73 | 7.83 | 17.12 | 17.52 | 17.15 | 17.32 |
1968-69 | 3.39 | 2.61 | 3.44 | 3.34 | 5.89 | 5.46 | 5.93 | 5.86 |
1969-70 | 6.54 | 6.52 | 6.54 | 6.55 | 10.10 | 9.97 | 10.13 | 9.84 |
1970-71 | 5.16 | 5.01 | 5.17 | 4.82 | 6.80 | 6.38 | 6.81 | 6.01 |
1971-72 | 1.64 | 1.01 | 1.67 | 1.49 | 7.06 | 6.39 | 7.08 | 6.91 |
1972-73 | -0.55 | -0.32 | -0.51 | -0.82 | 10.23 | 10.00 | 10.26 | 10.17 |
1973-74 | 3.30 | 4.55 | 3.36 | 3.31 | 21.71 | 22.55 | 21.79 | 21.89 |
1974-75 | 1.19 | 1.16 | 1.30 | 0.96 | 18.05 | 17.71 | 18.19 | 17.48 |
1975-76 | 9.15 | 9.00 | 9.24 | 9.58 | 7.35 | 6.21 | 7.42 | 6.64 |
1976-77 | 1.66 | 1.25 | 1.69 | 1.36 | 7.75 | 7.49 | 7.79 | 7.75 |
1977-78 | 7.25 | 7.47 | 7.32 | 7.58 | 13.30 | 14.13 | 13.33 | 13.83 |
1978-79 | 5.71 | 5.50 | 5.73 | 5.87 | 8.31 | 7.47 | 8.41 | 8.21 |
1979-80 | -5.24 | -5.20 | -5.09 | -5.83 | 9.67 | 9.12 | 9.95 | 8.96 |
1980-81 | 6.74 | 7.17 | 6.78 | 6.91 | 19.02 | 19.51 | 19.15 | 19.47 |
1981-82 | 6.01 | 5.63 | 5.88 | 5.97 | 17.48 | 17.08 | 17.24 | 16.80 |
1982-83 | 3.48 | 2.92 | 3.19 | 3.00 | 11.85 | 11.72 | 11.46 | 11.05 |
1983-84 | 7.29 | 7.85 | 7.27 | 7.53 | 16.46 | 16.97 | 16.36 | 16.86 |
1984-85 | 3.82 | 3.96 | 3.68 | 3.45 | 12.05 | 12.30 | 11.88 | 11.44 |
1985-86 | 5.25 | 4.16 | 5.28 | 5.21 | 12.83 | 11.74 | 12.90 | 12.24 |
1986-87 | 4.78 | 4.31 | 4.74 | 4.66 | 11.89 | 11.50 | 11.82 | 11.71 |
1987-88 | 3.97 | 3.53 | 3.80 | 3.54 | 13.66 | 13.36 | 13.48 | 13.11 |
1988-89 | 9.63 | 10.16 | 9.39 | 9.78 | 18.65 | 19.34 | 18.27 | 18.45 |
1989-90 | 5.95 | 6.13 | 5.93 | 5.96 | 14.89 | 15.20 | 14.75 | 14.61 |
1990-91 | 5.53 | 5.29 | 5.35 | 5.22 | 16.79 | 16.49 | 16.62 | 16.66 |
1991-92 | 1.06 | 1.43 | 1.02 | 0.52 | 14.95 | 15.37 | 14.71 | 13.83 |
1992-93 | 5.48 | 5.36 | 5.53 | 5.52 | 14.94 | 14.70 | 14.93 | 14.98 |
1993-94 | 4.75 | 5.68 | 4.91 | 4.96 | 15.08 | 16.23 | 15.26 | 15.63 |
1994-95 | 6.66 | 6.39 | 6.71 | 6.75 | 17.30 | 16.80 | 17.43 | 17.55 |
1995-96 | 7.57 | 7.29 | 7.57 | 7.72 | 17.32 | 17.08 | 17.51 | 17.62 |
1996-97 | 7.55 | 7.97 | 7.66 | 7.80 | 15.70 | 16.38 | 15.91 | 15.98 |
1997-98 | 4.05 | 4.30 | 4.24 | 3.95 | 10.79 | 11.20 | 10.88 | 10.60 |
1998-99 | 6.18 | 6.68 | 6.18 | 6.13 | 14.69 | 15.28 | 14.70 | 15.08 |
1999-00 | 8.85 | 8.00 | 8.83 | 8.92 | 12.19 | 11.35 | 12.26 | 12.07 |
2000-01 | 3.84 | 4.15 | 3.57 | 3.27 | 7.63 | 7.67 | 7.32 | 6.90 |
2001-02 | 4.82 | 5.39 | 4.96 | 4.79 | 8.19 | 8.72 | 8.41 | 8.14 |
2002-03 | 3.80 | 3.88 | 3.92 | 3.78 | 7.66 | 7.75 | 7.88 | 7.88 |
2003-04 | 7.86 | 7.97 | 7.85 | 7.99 | 12.03 | 12.03 | 11.95 | 12.09 |
2004-05 | 7.92 | 7.05 | 7.92 | 7.77 | 14.10 | 13.16 | 14.15 | 13.78 |
2005-06 | 7.92 | 8.28 | 7.90 | 7.74 | 13.99 | 14.55 | 13.97 | 13.99 |
2006-07 | 8.06 | 8.05 | 7.99 | 7.83 | 17.14 | 17.37 | 17.07 | 17.27 |
2007-08 | 7.66 | 7.38 | 8.05 | 7.77 | 15.14 | 14.99 | 15.56 | 15.49 |
2008-09 | 3.09 | 4.31 | 2.91 | 2.24 | 12.56 | 15.20 | 12.36 | 11.87 |
2009-10 | 7.86 | 6.86 | 7.86 | 7.53 | 15.46 | 15.51 | 15.46 | 15.35 |
2010-11 | 8.50 | 8.03 | 7.96 | 7.83 | 19.92 | 18.56 | 19.35 | 19.84 |
2011-12 | 5.24 | 5.22 | 5.45 | 5.00 | 14.43 | 14.45 | 14.65 | 14.59 |
2012-13 | 5.46 | 5.42 | 5.14 | 4.54 | 13.82 | 13.52 | 13.49 | 13.23 |
2013-14 | 6.39 | 6.05 | 6.31 | 5.98 | 12.97 | 12.61 | 12.89 | 12.91 |
2014-15 | 7.41 | 7.15 | 7.48 | 7.53 | 10.99 | 11.01 | 11.06 | 10.92 |
2015-16 | 8.00 | 8.03 | 7.99 | 8.02 | 10.46 | 9.30 | 10.48 | 10.79 |
2016-17 | 8.26 | 7.97 | 8.27 | 8.21 | 11.76 | 11.06 | 11.78 | 12.02 |
2017-18 | 6.80 | 6.23 | 6.87 | 6.74 | 11.03 | 11.03 | 11.11 | 11.13 |
2018-19 | 6.45 | 5.81 | 6.48 | 6.23 | 10.59 | 10.77 | 10.60 | 10.39 |
2019-20 | 3.87 | 3.94 | 3.99 | 3.56 | 6.37 | 7.02 | 6.49 | 6.19 |
2020-21 | -5.78 | -4.15 | -6.25 | -7.90 | -1.24 | -0.93 | -1.62 | -2.82 |
2021-22 | 9.69 | 9.38 | 9.89 | 10.38 | 18.85 | 18.81 | 19.05 | 19.75 |
2022-23 | 6.99 | 6.69 | 6.77 | 6.79 | 14.21 | 13.97 | 13.98 | 13.49 |
2023-24 | 7.58 | 6.91 | 7.60 | 7.71 | 9.05 | 8.19 | 8.95 | 9.05 |
Year | Per capita Growth rate (%) at 2011-12 prices | Per capita Growth rate (%) at current prices (%) | ||||
---|---|---|---|---|---|---|
GDP | GNI | NNI | GDP | GNI | NNI | |
1951-52 | 1.56 | 1.68 | 2.08 | 4.93 | 4.95 | 4.91 |
1952-53 | 0.41 | 0.46 | 1.33 | -4.03 | -4.04 | -3.96 |
1953-54 | 4.48 | 4.51 | 5.05 | 7.34 | 7.37 | 8.24 |
1954-55 | 2.81 | 2.75 | 4.66 | -7.49 | -7.19 | -6.92 |
1955-56 | 1.49 | 1.61 | 1.64 | 0.35 | 0.00 | 0.00 |
1956-57 | 3.23 | 3.20 | 3.57 | 16.49 | 16.55 | 17.10 |
1957-58 | -2.26 | -2.30 | -2.57 | 0.90 | 1.21 | 0.63 |
1958-59 | 5.10 | 5.06 | 5.15 | 9.25 | 8.96 | 9.15 |
1959-60 | 0.67 | 0.54 | 0.57 | 3.28 | 3.29 | 3.18 |
1960-61 | 3.49 | 3.45 | 3.86 | 7.41 | 7.16 | 7.56 |
1961-62 | 1.58 | 1.48 | 1.27 | 3.69 | 3.71 | 3.39 |
1962-63 | 0.64 | 0.58 | 0.51 | 5.23 | 5.01 | 5.04 |
1963-64 | 3.56 | 3.58 | 3.81 | 12.19 | 12.27 | 12.47 |
1964-65 | 5.19 | 5.10 | 5.14 | 14.08 | 14.17 | 14.29 |
1965-66 | -4.75 | -4.80 | -5.31 | 3.17 | 3.19 | 2.80 |
1966-67 | -2.11 | -2.09 | -2.45 | 10.94 | 10.65 | 10.53 |
1967-68 | 5.49 | 5.40 | 5.49 | 14.48 | 14.60 | 14.78 |
1968-69 | 1.01 | 1.07 | 0.94 | 3.50 | 3.52 | 3.43 |
1969-70 | 4.24 | 4.24 | 4.33 | 7.67 | 7.72 | 7.47 |
1970-71 | 2.90 | 2.91 | 2.50 | 4.59 | 4.50 | 3.73 |
1971-72 | -0.80 | -0.77 | -0.89 | 4.39 | 4.53 | 4.34 |
1972-73 | -2.76 | -2.71 | -3.09 | 7.85 | 7.79 | 7.73 |
1973-74 | 0.93 | 1.00 | 0.99 | 18.87 | 19.09 | 19.09 |
1974-75 | -1.02 | -0.91 | -1.25 | 15.53 | 15.60 | 14.92 |
1975-76 | 6.65 | 6.74 | 7.06 | 4.85 | 4.95 | 4.19 |
1976-77 | -0.46 | -0.44 | -0.76 | 5.48 | 5.50 | 5.50 |
1977-78 | 4.86 | 4.93 | 5.20 | 10.80 | 10.83 | 11.30 |
1978-79 | 3.43 | 3.45 | 3.58 | 5.97 | 6.05 | 5.87 |
1979-80 | -7.51 | -7.36 | -8.10 | 7.02 | 7.32 | 6.35 |
1980-81 | 4.36 | 4.40 | 4.54 | 16.39 | 16.53 | 16.80 |
1981-82 | 4.04 | 3.92 | 3.98 | 15.28 | 15.06 | 14.64 |
1982-83 | 1.13 | 0.84 | 0.68 | 9.33 | 8.93 | 8.53 |
1983-84 | 5.05 | 5.04 | 5.29 | 14.03 | 13.93 | 14.42 |
1984-85 | 1.59 | 1.45 | 1.21 | 9.64 | 9.48 | 9.05 |
1985-86 | 3.01 | 3.04 | 2.98 | 10.43 | 10.49 | 9.85 |
1986-87 | 2.61 | 2.58 | 2.49 | 9.58 | 9.49 | 9.41 |
1987-88 | 1.73 | 1.56 | 1.30 | 11.21 | 11.03 | 10.67 |
1988-89 | 7.29 | 7.06 | 7.46 | 16.11 | 15.77 | 15.93 |
1989-90 | 3.77 | 3.76 | 3.76 | 12.53 | 12.39 | 12.25 |
1990-91 | 3.39 | 3.20 | 3.09 | 14.43 | 14.24 | 14.29 |
1991-92 | -0.95 | -0.99 | -1.48 | 12.67 | 12.42 | 11.57 |
1992-93 | 3.55 | 3.60 | 3.59 | 12.83 | 12.82 | 12.87 |
1993-94 | 2.40 | 2.55 | 2.61 | 12.50 | 12.67 | 13.04 |
1994-95 | 4.55 | 4.60 | 4.64 | 14.98 | 15.11 | 15.22 |
1995-96 | 5.48 | 5.48 | 5.63 | 15.05 | 15.22 | 15.34 |
1996-97 | 5.51 | 5.62 | 5.74 | 13.50 | 13.72 | 13.78 |
1997-98 | 2.10 | 2.28 | 2.01 | 8.71 | 8.80 | 8.53 |
1998-99 | 4.13 | 4.13 | 4.08 | 12.47 | 12.48 | 12.86 |
1999-00 | 6.89 | 6.87 | 6.96 | 10.17 | 10.24 | 10.06 |
2000-01 | 2.01 | 1.74 | 1.44 | 5.73 | 5.42 | 5.02 |
2001-02 | 2.71 | 2.85 | 2.68 | 6.01 | 6.22 | 5.96 |
2002-03 | 2.23 | 2.35 | 2.20 | 6.03 | 6.24 | 6.24 |
2003-04 | 6.25 | 6.24 | 6.37 | 10.36 | 10.28 | 10.42 |
2004-05 | 6.24 | 6.24 | 6.08 | 12.32 | 12.36 | 12.00 |
2005-06 | 6.27 | 6.24 | 6.09 | 12.24 | 12.22 | 12.24 |
2006-07 | 6.52 | 6.45 | 6.29 | 15.47 | 15.39 | 15.59 |
2007-08 | 6.15 | 6.53 | 6.26 | 13.52 | 13.93 | 13.87 |
2008-09 | 1.66 | 1.48 | 0.83 | 11.00 | 10.81 | 10.32 |
2009-10 | 6.39 | 6.38 | 6.06 | 13.88 | 13.88 | 13.77 |
2010-11 | 7.03 | 6.51 | 6.38 | 18.30 | 17.74 | 18.22 |
2011-12 | 2.31 | 2.51 | 2.08 | 11.24 | 11.46 | 11.39 |
2012-13 | 4.18 | 3.86 | 3.27 | 12.44 | 12.11 | 11.85 |
2013-14 | 5.02 | 4.95 | 4.63 | 11.52 | 11.44 | 11.46 |
2014-15 | 6.05 | 6.12 | 6.17 | 9.59 | 9.66 | 9.52 |
2015-16 | 6.65 | 6.65 | 6.67 | 9.08 | 9.11 | 9.41 |
2016-17 | 6.92 | 6.94 | 6.88 | 10.38 | 10.40 | 10.64 |
2017-18 | 5.58 | 5.65 | 5.52 | 9.77 | 9.84 | 9.86 |
2018-19 | 5.41 | 5.43 | 5.19 | 9.51 | 9.52 | 9.31 |
2019-20 | 2.79 | 2.91 | 2.48 | 5.26 | 5.38 | 5.08 |
2020-21 | -6.78 | -7.24 | -8.88 | -2.29 | -2.67 | -3.85 |
2021-22 | 8.63 | 8.83 | 9.32 | 17.71 | 17.91 | 18.60 |
2022-23 | 5.88 | 5.66 | 5.69 | 13.02 | 12.80 | 12.32 |
2023-24 | 6.65 | 6.67 | 6.77 | 8.11 | 8.01 | 8.11 |