Fifty-one observations. One economic story.
India’s economy, in constant perspective.
Trace five decades of fiscal scale, real output, and price pressure — then remove inflation to see how much growth remains.
Choose a cycle
Drag either handle (minimum 10-year window). Every metric and chart below updates instantly.
Cycle vitals
The window at a glance
Endpoint readings and whole-window statistics for the selected cycle. Click any card to open its full graph.
Real economy pulse
Real vs nominal GDP growth
Nominal growth counts rupees; real growth counts output. The vertical gap between the two lines is, roughly, what inflation added each year.
Year-over-year growth, %. Click legend entries to isolate a series.
Building & trading
Infrastructure momentum and external trade
Core-infrastructure growth (bars, left axis) alongside what India ships out and brings in (lines, right axis, ₹ lakh crore).
Trade levels shown at current prices. Toggle Nominal / Real and ₹ / $ in the header to change price basis and currency.
Fiscal explorer
Tax revenue vs public debt
Tax receipts fund the state; public debt fills the gap. Axes differ in scale — hover to compare each side as a share of GDP.
Levels at current prices. Tooltips include tax-to-GDP and debt-to-GDP ratios.
Stagflation watch
Growth against inflation
Real GDP growth against consumer (CPI) and wholesale (WPI) inflation. Shaded years mark where CPI outran real growth — price pressure eating the expansion.
All series in %, year over year. Amber shading = CPI above real growth for that year.
Methodology & data notes
Real vs nominal
- Constant-price (“Real”) levels deflate nominal levels with a CPI index rebased to 100 in the selected base year — 2011–12 (old national-accounts series) or 2022–23 (new series). Pick the anchor with the Base toggle that appears in Real view.
- Rupee levels are derived as ratio-to-GDP × nominal GDP (₹ lakh crore, World Bank WDI).
INR vs USD
- The ₹ / $ toggle is a display conversion for absolute levels (exports, imports, tax revenue, public debt). Growth rates, inflation, and GDP ratios are unchanged.
- USD billion = ₹ lakh crore × 1000 / annual average INR per USD (FRED AEXINUS). Amounts at or above $1,000 bn are shown as trillions. Real series are converted after CPI deflation — this is not a US-CPI “real USD” rebasing.
Sources
- World Bank World Development Indicators — real GDP growth, nominal levels, CPI, trade shares, industry proxy.
- IMF WoRLD — general-government tax/GDP from 1990 (WDI central tax/GDP before 1990).
- IMF Fiscal Monitor (1992+) and IMF HPDD (1975–91) — general-government debt/GDP.
- Office of the Economic Adviser, DPIIT — WPI fiscal-year indices and the Index of Eight Core Industries.
Conventions & caveats
- Year label Y denotes Indian fiscal year Y/(Y+1), consistent with WDI annual national accounts for India.
- Core-industries growth before the OEA 2011–12 monthly series is an industry value-added proxy, not ICI.
- A few single-year WPI/debt gaps at official index-base transitions are linear-filled from neighboring authentic observations (never extrapolated beyond the sample).