India is on track to doubling the size of its economy to $5 trillion by 2025, the finance ministrysaid on Monday while asserting that the inflation target set by the Reserve Bank will not be breached.
The country is well poised to click a growth rate of 7-8 per cent and with focus on start-ups, MSMEs and infrastructure investment it can step on to higher growth pedestal, Economic Affairs Secretary Subhash Chandra Garg said.
“I think it is very reasonable to expect, if the economy remains focused on producing goods and services and generate demands for next 7-8 years…we can achieve the level of $5 trillion of economy by 2025. That’s the reasonably set goal,” Garg said at the CII Global Industry Associations Summit.
India’s GDP in value terms currently stands at $2.5 trillion — making it the sixth largest economy in the world.
With regard to inflation, Garg said its trajectory is well within the RBI’s target of 4 per cent, plus/minus 2 per cent. Read More…
Latest posts by Auto Economic Times (see all)
- Iran says neighbours exaggerating oil capacity - May 2, 2019
- U.S. crude output declines in Feb for first time in 9 months - May 1, 2019
- Venezuela skirts U.S. sanctions by funnelling oil sales via Russia - April 19, 2019