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PBME Volume VI ISBN: 978-81-951151-0-5
Author(s): Dr. SELVI S 
& Dr. SALMA BEGUM
Abstract
Economic growth is important for any country and India's economic growth has stood at 8.7 percent in the financial year 2021-2022 with a growth of 19.5 percent in nominal GDP. However, the World Bank has cut down the growth rate, further to 7.5 percent from 8.3 percent for the financial year 2022-23 due to the whopping inflation in India and the supply chain disruption. The economic growth of a country depends on several indicators and it is important that all those indicators are favourable. India is currently facing the challenge of high inflation. The Reserve Bank of India has taken measures to curb the inflation rate by increasing the repo rate to 4.90 percent. However, the government has been taking several steps to control the surge in food and energy prices but the economy is expected to revive once the Russia-Ukraine war stops. This paper discusses the poverty rate, inflation rate, and literacy rate in terms of gross enrolment ratio to understand their impact on the economic growth of India.
Keywords: GDP, poverty rate, inflation rate, literacy rate, gross enrolment ratio, unemployment rate
JEL Classification: E24, I25, I32
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