FinMin sees $5-trn GDP target at early date
Govt taking steps to make reach the target much before the IMF forecast of 2026-27: MoS for Finance Chaudhary
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New Delhi: The government on Tuesday informed the Rajya Sabha that it is taking steps to make India a $5 trillion economy earlier than the International Monetary Fund’s (IMF) forecast year of 2026-27.
The IMF’s World Economic Outlook earlier said the size of the Indian economy will increase from $3.2 trillion in 2021-22 to $3.5 trillion in 2022-23 and cross $5 trillion in 2026-27.
“The government has been taking steps to make the country a $5 trillion economy at an early date,” Minister of State (MoS) for Finance Pankaj Chaudhary said in a written reply to the Upper House.
Observing that the outbreak of the Covid pandemic in 2020 and the Russia-Ukraine conflict in 2022 have impacted the world output, increased inflation in several countries and raised uncertainty in the world economy, he said, “lower uncertainty in the global economic outlook will help India become a $5 trillion-dollar economy earlier.”
Some of the important measures include the making of the National infrastructure pipeline of projects.
