If GDP grows at 9% for 5 years, then India can become a $5 trillion economy by FY29

Federation of Telangana Chamber of Commerce and Industry on India @ 75- Marching towards 5 Trillion Economy on the occasion of 75 Years of Indian Independence, he said that there are eight major challenges for India to achieve the dream of 5 Trillion Economy . ,

“India can become a 5 trillion economy as envisaged by Prime Minister Narendra Modi before 2028-29. Also we need to see annual GDP growth of 9 percent continuously for the next 5 years… I see eight major challenges for India To achieve the dream of a USD 5 trillion economy,” Subbarao was quoted as saying in a press release by the FTCCI.

According to him, the challenges include increasing investment, improving productivity and education and health outcomes, creating jobs, increasing agricultural productivity, maintaining macroeconomic stability, managing global mega-trends and improving governance. Subba Rao further said that Modi started the debate on state subsidy and all political parties are to blame for the situation.

He cautioned that the states and the central government should realize that the country does not have an additional budget and certainly needs some security mechanism. They should be careful and selective about what is given free of cost with the borrowed money and not burden the future generations with unnecessary debt, the release said.

This story has been published without modification in text from a wire agency feed. Only the title has been changed.

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