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New Delhi, 14 Jun (PTI): Chief Economic Adviser (CEA) V Anantha Nageswaran on Tuesday said India would become a USD 5 trillion economy by 2026-27 and USD 10 trillion by 2033-34.
\nAddressing an event organised by UNDP India, Nageswaran said India is relatively better placed than other emerging economies.<\/p>\n
\u201cOn the face of it, looks optimistic, even ambitious, but if we get to USD 5 trillion by 2026-27.<\/p>\n
\u201cWe are now USD 3.3 trillion, it is not such a difficult target to reach. Then if you simply assume 10 per cent nominal GDP growth in dollar terms, then you get to USD 10 trillion by 2033-34 and another doubling with the same rate,\u201d he said.<\/p>\n
In 2019, Prime Minister Narendra Modi envisioned to make India a USD 5 trillion economy and global powerhouse by 2024-25.
\nThe CEA said there is a need for climate tagging of the budget.<\/p>\n
\u201cGDP is the worst measure of economic activities but for all others. Because everything else you take, comes with their own limitations and serious subjectivity,\u201d he noted.<\/p>\n
The World Bank has cut India\u2019s economic growth forecast for the current fiscal to 7.5 per cent as rising inflation, supply chain disruptions, and geopolitical tensions taper recovery.<\/p>\n
India\u2019s economy grew 8.7 per cent in the last fiscal (2021-22) against a 6.6 per cent contraction in the previous year.
\nIn its third monetary policy of 2022-23, the Reserve Bank retained its GDP growth forecast at 7.2 per cent for the current fiscal but cautioned against negative spillovers of geopolitical tensions and a slowdown in the global economy.<\/p>\n
Nageswaran said India will have to start investing in getting the right supply of metals and minerals required to fuel the energy transition.<\/p>\n
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New Delhi, 14 Jun (PTI): Chief Economic Adviser (CEA) V Anantha Nageswaran on Tuesday said India would become a USD 5 trillion economy by 2026-27 and USD 10 trillion by 2033-34. Addressing an event organised by UNDP India, Nageswaran said India is relatively better placed than other emerging economies. \u201cOn the face of it, looks […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-193146","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/193146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=193146"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/193146\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=193146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=193146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=193146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}