Chief Economic Adviser V Anantha Nageswaran expects that India would become a USD 5 trillion economy by FY26 or the next year if the Gross Domestic Product continues to grow at around 8 percent.
During the Finance Minister's post Budget interaction with the media, he said that GDP in dollar terms has already crossed USD 3 trillion.
During a post-Budget press conference, Nageswaran said, “Depending on how exchange rate move...Indian Rupee would remain stable to strong given what is going on the developed world. If we continue to retain the path of 8-9 per cent real GDP, it would translate into 8 per cent dollar GDP growth. If we extrapolate that we should be at the USD 5 trillion by 2025-26 or 2026-27.”
The Indian economy is estimated to grow at 9.2 percent during the current fiscal while 8-8.5 percent for the next financial year.
Prime Minister Narendra Modi envisioned making India a USD 5 trillion economy and a global economic powerhouse by 2024-25. With this, India would become the third largest economy in the world.
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