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The real GDP at constant prices in India is estimated to be around 147.72 trillion INR in 2021-22 whereas that was 135.58 trillion in 2020-21. The Data Tables tab of the International Financial Statistics dataset portal and the National Accounts dataset portal upload the GDP data every year on May 31. The GDP of India fell down to 32.38 lakh crores in the first quarter of 2021-22 from 35.67 lakh crores (in the first quarter of 2020-21). This study talks about the CARE rating and GDP growth. India is now holding the fifth position in the GDP chart of the world. This study gives information about CARE rating, Goldman, & GDP growth of India.
CARE Rating in India’s GDP
The full form of CARE rating is Credit Analysis & Research Ltd. and it is the leading agency for credit ratings in India. Ajay Mahajan is the owner, managing director & CEO of CARE. The main promoter of the CARE rating is IDBI Bank Ltd. and it holds a 26.75% stake in the CARE rating. CARE rating is the first asset of India with durable assets pool securitization rating for consumers. It developed the expected loss rating needed for the building & infrastructure process. It launched CDQI, which is a Debt quality index, and CDQI refers to the quality of any type of debt in the country. It also launched REITs (Real Estate Investment Trusts) and AIF (Alternative Investment Fund). It gave India the first securitized transactions which are supported and securitized by Mortgage Guarantee and it developed the first Green Infrastructure bond. The Goldman Sachs group is the global investment banking management and it is leading investment banker. Goldman banking provides a very large range in financial services and diverse clients helping corporations, governments, etc. Goldman has a selective principal in investing for companies.
GDP growth
The GDP growth rate refers to the comparison between years over year or quarterly varies of economic output and the measure of the estimated speed of an economy’s growth. A GDP growth rate is said to be ideal if the growth rate is between two to three per cent. The rate of unemployment is maintained if the GDP growth rate stays at 3 percent. The growth in GDP is very important because it is linked with the improvement of the economic health of the country. The increase in the GDP rate expresses that the country’s economy is doing well and it impacts the employment and economic health of the country.
GDP reports of India in 2021
The first revised real GDP constant of India in the year 2019-20 was 145.69 lakh crores INR. Thereafter, it fell down to 135.13 lakh crores INR in the year 2021-22. (-7.3) percent was the estimated GDP growth rate during the period 2019-20. The nominal GDP is also known as the GDP at its current price was estimated to meet a level of 197.46 lakh crores INR. Therefore, that met a level of 203.51 lakh crores INR in 2019-20. That shows the change percent in nominal GDP decreased by 3 per cent in the year 2020-21. The estimates by the NNI, GNI, and GVA for constant prices were 117.46 lakh crores, 124.53 lakh crores, and 133.85 lakh crores INR. These estimates changed into 174.62 lakh crores, 179.15 lakh crores, and 195.61 lakh crores INR respectively based on the current price.
Conclusion
India’s real GDP was raised to 9.2 per cent in the year 2021-22 from 7.3 per cent in 2020-21. This shows that the economy was recovering from the past pandemic effects. It also shows that the economic affection was not as high as expected at the time of the lockdown phase. The GDP growth rate slows down for some issues such as pandemics, inflation in goods prices, etc. This means an increase in the unemployment rate and it is a subject of a company’s decline. The GDP growth reports of India in the last year’s show that India started recovering from the post-pandemic situation.
