The Narendra Modi authorities had set a goal to attain a $5 trillion economic system by 2023-24 however the authorities’s present timeframe to attain the goal is ‘nowhere close to the unique aim submit’, former finance minister and Congress member P Chidambaram mentioned in a tweet on Sunday.

‘The aim of a USD 5 trillion GDP seems to be a case of ‘shifting goalposts’ The unique goal 12 months was 2023-24. We’re nowhere close to that goalpost,” the Congress MP mentioned.

Prime Minister Narendra Modi in 2019 had set a goal to make India a $5 trillion economic system by 2024-25 however the Indian and the worldwide economic system since then has been affected adversely by the Covid-19 pandemic and extra not too long ago by the Russia-Ukraine struggle.

The Worldwide Financial Fund (IMF) not too long ago “fastened” an error in its projections on India’s financial growth, claiming that it expects the nation to grow to be a $5 trillion economic system by FY27, up from its former prediction of FY29.

India’s Chief Financial Adviser V Anantha Nageswaran on Saturday mentioned he’s hopeful that as per the projections of the Worldwide Financial Fund, India is heading in direction of reaching a GDP measurement of $5 trillion by 2027.

“In the present day, we’ve a robust revival of personal funding, and the nation has comfy foreign exchange reserves to resist turbulence within the worldwide forex market. The exponential progress of digital funds in India throughout the previous few years is a sign of quick adjustments within the casual sector,” Nageswaran added.

To this, the previous Congress MP responded by saying that every participant within the present authorities has a special aim submit.

“Now, the Chief Financial Adviser has mentioned we are going to obtain the aim ‘by 2027’. I believe every one of many key gamers has a special goalpost : PM, FM, FS and CEA. Every time the economic system reaches the milestone, one can say “We informed you so”!,” he tweeted.


Supply hyperlink