Britain Current Affairs

India surpasses Britain to become world’s sixth-largest economy: Forbes magazine

According to report published in Forbes magazine, India has surpassed its colonial masters United Kingdom to become world’s sixth-largest economy in GDP terms for first time after nearly 150 years.

Following the change in the rankings, India’s economy now stands behind the United States, China, Japan, Germany and France.

Key Facts
  • India has managed to overtake UK owing to Britain’s recent Brexit-related problems and its rapid economic growth followed by downslide in the value of the pound.
  • UK’s economy is expected to grow by 1.8% in 2016 and slow down to 1.1% in 2017. Its economy and currency are struggling since it voted to leave lucrative common market of European Union.
  • Whereas, India’s economy maintained its growth around 7% primarily due to price slump in global commodities, good rainfall, lower-than-expected inflation, reforms undertaken by Government to spur growth.
  • Furthermore, this gap is expected to widen as India grows at 6 to 8% per annum as compared to UK’s growth of 1 to 2% until 2020, and likely beyond.
  • Even if the currencies fluctuate that modify these growth figures to rough equality, India’s economy will be ahead of UK based on future growth prospects.

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Lewis Hamilton wins 2016 British Grand Prix of F1

Mercedes driver Lewis Hamilton from Great Britain has won the 2016 British Grand Prix title of Formula One. It his overall fourth British Grand Prix title after winning it in 2008, 2014 and 2015.

It was also his fourth title of the 2016 season after Monaco Grand Prix (May 2016), Canadian Grand Prix (June 2016) and Austrian Grand Prix (July 2016).

British Grand Prix was the tenth race of the 2016 season and was held at the Silverstone Circuit near the village of Silverstone in Northamptonshire in England.

Rankings after 2016 Austrian Grand Prix

  • 1st position: Lewis Hamilton (Britain) of Mercedes.
  • 2nd position: Max Verstappen (Netherlands) of Red Bull.
  • 3rd position: Nico Rosberg (Germany) of Mercedes.
  • 4th position: Daniel Ricardo (Australia) of Red Bull.
  • 5th position: Kimi Raikkonen (Finland) of Ferrari.
  • 6th position: Sergio Perez (Mexico) of Force India.
  • 7th position: Nico Hulkenberg (Germany) of Force India.

Top Teams: Mercedes, Red Bull, Ferrari and Force India.

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