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India overtakes United Kingdom to become World’s 5th largest economy | Daily Current Affairs Dose

India overtakes United Kingdom to become World’s 5th largest economy | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is India overtakes United Kingdom to become World’s 5th largest economy.

Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

India overtakes United Kingdom to become World’s 5th largest economy | Daily Current Affairs Dose

India 5th largest economy in the world: India has overtaken the United Kingdom to become the 5th largest economy in the world. Bloomberg has announced that India has overtaken Britain to become the fifth largest economy of the world.

Bloomberg reached this conclusion by using using the database of the International Monetary Fund (IMF) and historic exchange rates.

This is the second time India has beaten the UK in terms of economy, with the first one being in 2019.

According to GDP figures from the International Monetary Fund (IMF) the calculation is based on US dollars, with India further extending its lead in the first quarter of the current financial year the size of the Indian economy with regards to ‘nominal’ cash was $854.7 billion during the quarter through March. Whereas, the same for the UK was $814 billion.

Earlier, as per provisional estimates released by the National Statistical Office (NSO) on 31st August 2022, the Indian economy expanded 13.5 per cent in April-June 2022-23, which is higher than 4.10 per cent growth clocked in the previous March quarter.

International Monetary Fund (IMF): World Largest Economy Rankings

Top 10 World Largest Economy Rankings list 2022:  India has emerged as the 5th largest economy in the world. Below is a list of the world's highest ranking countries in nominal gross domestic product (GDP) according to the International Monetary Fund (IMF).

1. The United States (GDP: 22.49 trillion)
2. China (GDP: 16.4 trillion)
3. Japan: (GDP: 5.27 trillion)
4. Germany: (GDP: 4.30 trillion)
5. India: (GDP: 3.21 trillion)
6. The United Kingdom: (GDP: 3.2 trillion)
7. France: (GDP: 2.78 trillion)
8. Italy: (GDP: 2.07 trillion)
9. Brazil: (GDP: 1.87 trillion)
10. Canada: (GDP: 1.71 trillion)

India is now behind USA, China, Japan and Germany in terms of economy.

Important facts for upcoming exams from the United Kingdom

  • Full form of the UK: United Kingdom of Great Britain and Northern Ireland
  • Capital city of the UK: London
  • Largest city of the UK: London 
  • Official language and national language of the UK: English 
  • Regional and minority languages of the UK: Scots, Ulster Scots, Welsh, Cornish, Scottish Gaelic and Irish
  • Prime Minister of the UK: Liz Truss
  • Total Population  of the UK 2020 estimate: Neutral increase 67,886,004 (21st)
  • Currency of the UK: Pound sterling (GBP)

Important facts for upcoming exams from India

  • President of India: Droupadi Murmu 
  • Vice President of India: Jagdeep Dhankhar
  • Prime Minister of India: Narendra Modi 
  • Chief Justice of India: Uday Umesh Lalit 
  • Lok Sabha Speaker of India: Om Birla 
  • Capital of India: New Delhi 
  • Largest city of India: Mumbai 
  • Official languages of India: Hindi / English 
  • Currency of India: Indian rupee (₹) (INR) 
  • Total Population of India 2018 estimate: Neutral increase 1,352,642,280

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