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India now 2 trillion dollar economy


Yet another good news on economy front. India has now crossed 2 trillion mark and racing towards becoming 3 trillion economy. According to the data released by the World Bank, India's GDP crossed 2 trillion dollar mark in 2014 and now stand at 2.6 trillion. 

These figures are all the more heartening when seen in the background of the fact that India took 60 years to reach 1 trillion mark in 2008. More remarkable is the fact that this additional trillion dollars were added to the GDP in a period when the world faced unprecendented economic down turn.
However a sobering reminder is that despite doubling its GDP after 2008, India remains in the category of lower middle income economy. China with its 10 trillion plus GDP is already in the category of upper middle income country.