Forecasting of GDP (Gross Domestic Product) Per Capita Using (ARIMA) Data-Driven Intelligent Time Series Predicting Approach

Abstract

Gross Domestic Product is the aggregate value of all final services and products generated by the country during the measurement period, including private inventories, paid-in capital expenditures, government purchases, personal consumption, and the balance of international commerce. During the Pandemic period of the last two years, the COVID-19 outbreak has caused chaos in the worldwide economy. Sickness outbreaks, supply-chain disruptions, and, more recently, inflation have made policymaking exceedingly difficult. This research aims to forecast GDP (Gross Domestic Product) per capita for the coming years while also examining historical and present trends in India. This study's objective is to forecast India's future GDP per capita over ten years, from 2021 to 2030, using ARIMA. According to a study, India's GDP per capita has been growing during the last 10 years, and this movement is likely to last over the following ten years.