what happened to India national income from 2013 or 2015
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India's GDP, during 2013–14, grew and marginally improved to 4.7 per cent as compared to 4.5 per cent in 2012–13. in the industry continued due to deceleration in mining and quarrying, and a disappointing performance of the manufacturing sector, with growth averaging 0.2 per cent per annum in the past two years.Jul
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India national income from 2013 or 2015 rose steadily during that phase.
Explanation:
- The economic growth forecast for 2013-14 was revised up to 6.9 percent compared to a projected 4.7 percent in 2013, after the govt had updated the national accounts baseline year
- In January 2010, the base year was originally updated & every five years is changed. In turn, new principles such as Gross Value Added ( GVA) were also applied to the economy. Changes are intended to enhance "data for research (ease of understanding) and to allow for foreign compatibility.
- As the most quickly expanding economy with a 5-year high growth pace of 7.6% for the entire financial year with steady industrial production, the economy expanded by 7.9% in 2015-16 at its fastest five-year level.
- The government stated that the growth rate in the that fiscal year, dependent on a strong monsoon, and could go up to 8%, dependent on the amazing figure for the 2015-16 fiscal year, as against 7.2 percent in the previous fiscal year 2015-16.
To know more
"India's GDP is expected to expand 7.5% in 2019-20: World Bank ...
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