Economic surveys conducted in India during February of 2008 fiscal had reported that gross domestic product of India would be growing at a rate of 8.7 percent. This was supposed to follow up impressive statistics of 2006-07 fiscal, when rate of growth of gross domestic product was 8.7 percent.
Much of this optimism was based on increase of rates of savings and investments in domestic financial circuit. It was predicted that aggregate gross domestic product of India in 2007-08 financial year would be approximately $1,000,820,362,968.85. It was expected that this growth would enable Indian economy to grow to one trillion dollar mark in near future.
In terms of nominal exchange rate, gross domestic product of India was supposed to be $1.16 trillion dollars in 2007-08 financial year. Per capita income in terms of nominal exchange rate was around $1,021.
Actual situation of India GDP growth
Actual picture is pretty different from what has been predicted. It is being assumed that in present scenario of economic recession, growth rate of India GDP would slip, if India's national government does not introduce economic stimulus packages.