- Since 2013, the GDP growth rate has consistently exceeded 5%.
- Between 2014 and 2021, the economy expanded by 40%.
- By 2027, India is projected to become the 5th largest economy, reaching a GDP of 5 trillion dollars.
- The 2016 demonetisation reduced the growth rate from 10% to 5%.
Main Pillars of Growth:
- Establishment of a Single National Market.
- Expansion of renewable energy sources.
- Shift in global supply chains from China to India.
- Growth of the Information Technology sector.
- Tech-enabled welfare systems.
- Streamlined financial infrastructure.
- 50% of National Highways already equipped with digital toll systems.
- Expansion of UPI and Aadhaar integration.
- Implementation of GST and the development of modern banking systems.
Note: UPI transactions accounted for 13% of monthly GDP in January 2020, increasing to 50% by April 2022.