Can India still achieve 5 trillion economy?

India becoming a USD five trillion economy by 2025 is impossible under the current circumstance and the country needs to grow at nine per cent per annum for the next five years in order to achieve that, former Reserve Bank Governor C Rangarajan said on Friday.

What does it mean to be a 5 trillion economy?

With a $5-trillion economy, the per capita GNP will remain a little more than $3,000 which will mean that India will remain a lower middle class country with extreme inequality and distress. …

What will happen if India become 5 trillion economy Quora?

Then you see how India achieves $ 5 Trillion even before 2024. Increased investment to higher production will lead to higher growth, higher employment, higher consumption, higher taxes.

Can India achieve 5 trillion dollar economy in 5 years?

PM Modi’s Aspirational Call for 5 Trillion Dollar Economy in 5 Years May 29, 2020 Prime Minister Narendra Modi after beginning his second term as the prime minister of India gave a clarion call for India to achieve the target of a 5 trillion-dollar economy by 2024. He called the target as challenging but achievable.

What is PM Modi’s 5 trillion dollar economy?

Prime Minister said that the idea of 5 Trillion Dollar Economy is not a sudden development and that it is based on a deep understanding of the strengths of the country. He said that this would also foster a positive mood and ‘can do’ spirit in the society.

What is the role of farmfarmers in Modi’s 5 trillion-dollar target?

Farmers form the core part of the Modi government’s strategy to reach the 5 trillion-dollar target as a huge chunk of our workforce is employed in agriculture. The government’s focused push on value addition and food processing is benefiting farmers by increasing the value of their produce.

How can a Clean India make the 5 trillion-dollar journey easier?

A clean, healthy and a beautiful India will make the 5 trillion-dollar journey easier. Saving lakhs of lives due to better sanitation and reducing healthcare expenditure on diseases, leaves people better placed to aspire for a greater economic future.