Abstract
India being an entity of highly populated nation across the globe, stands as a developing country with a perceptible economic status relative to the other countries. Integrals such as socio-political activities exert influence on the ups and downs of the economic development of any country. India was the sprightly growing economy in the early 2000’s but at the neoteric time, it is said that the economical maneuver of India has been directing towards the downhill. Prepending to the outbreak of Covid-19, the GDP discern to deflate below 0% at the onset but has shown a substantial upward movement post lockdown period. Thus, it can be ensured that the economical movement of India is progressing in a consistent approach despite the decline. In this paper, we aim at analyzing the historical movement of Indian economy in view with the recent up and downs and thereby also forecast the future economic movement with the help of time series.
Highlights
An economy is the larger set of all resource hub relating production and consumption activities that aid in determining the wealth perspective of any country
Appending strength to the union of federal structure, thereby reinforcing India’s economy with initiatives as of Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), Start-up India, Digital India and framing a new portrait to its enlightening outwork in the nation’s financial status, have aided the Indian economy jump to reach a determined outcome in the recent times and have cemented
The Gross Domestic Product (GDP) of our country collectively has been taken as the population for our study, the Goods and Service Tax (GST) and the Gold rates serve as the samples
Summary
An economy is the larger set of all resource hub relating production and consumption activities that aid in determining the wealth perspective of any country. The Gross Domestic Product (GDP) of our country collectively has been taken as the population for our study, the Goods and Service Tax (GST) and the Gold rates serve as the samples. We analyze their movements for the past 5 years and further forecast their movements for the upcoming year. We take into consideration, the impact of the Covid-19 pandemic and the lockdown imposed during this study It further restrained India’s economy to a decline rate at extremities but on the other hand, the downswing has later started to reshape and progress with an accelerating momentum, which in turn makes sure that the economic growth of India is steady.
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