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India’s GDP-The Next Decade: A Forecast Using ARIMA Model

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India’s growth along with sustainability in the next decade majorly depends on the growth in its market and economy as a whole. In the present study researcher has attempted to forecast the GDP growth for the country. Out of a variety of forecasting models ARIMA (1,2,2) model  has been applied to forecast the GDP over a period of ten years ranging from 2015 to 2025. The results indicate the fitness of AR (1) I (2) MA(2) parameters for making the future predictions. It is concluded that the GDP of India would be rising continuously over the estimated period. Autocorrelation Function (ACF) and Partial Autocorrelation Function (PACF) were studied to study the AR and MA terms. Augmented Dickey Fuller (ADF) Unit root test was used to test the stationarity of the data and identification of Integration (I) order. Akaike Information Criterion (AIC), Root Mean Squared Error, Mean Absolute Percentage Error were applied to study the model fitness. 

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