The government on Tuesday informed the Rajya Sabha that it is taking steps to make India a USD 5 trillion economy earlier than the International Monetary Fund’s forecast year of 2026-27. The IMF’s World Economic Outlook earlier said the size of the Indian economy will increase from USD 3.2 trillion in 2021-22 to USD 3.5 trillion in 2022-23 and cross USD 5 trillion in 2026-27.
“The government has been taking steps to make the country a $5 trillion economy at an early date,” Minister of State for Finance Pankaj Chaudhary said in a written reply to the Upper House.
Some of the necessary measures taken by the government in the past to boost economic growth include the making of the National infrastructure pipeline of projects, push to capital expenditure, implementation of the Production Linked Incentive (PLI) scheme, finalization of the National Monetization Pipeline of public sector assets and formulation of National Logistics policy, he said.
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