India leaped past the UK during the concluding three months of 2021 to emerge as the fifth-biggest economy. GDP figures from the International Monetary Fund suggested that India extended its lead in the first quarter.
The IMF’s own forecasts report India overtaking the UK in dollar terms on an annual basis this year. This eventually puts the Asian powerhouse in race to ace along the forerunners being US, China, Japan and Germany. A decade ago, India ranked 11th among the largest economies, while UK held the fifth position.
Meanwhile, people took to recollect former RBI Governor Raghuram Rajan's remarks about economic crisis expectancy towards India. Earlier in several instances, Rajan has repeatedly hinted the country and its sector of the risk of an encountering recession.
Appreciating Reserve Bank of India, he had opined that RBI has done a good job in increasing the foreign exchange reserves and the country would not face the economic problems like Sri Lanka and Pakistan.
Twitterati reacted over Rajan's repeated say on India's economic crisis. Mr. Bean waiting GIFs to Burnol moment memes flooded the microblogging platform.
