NEW DELHI: Indian economy is on a degree of "take off" and is anticipated to be the arena's 3rd largest through 2030 with GDP worth $10 trillion, Economic Affairs Secretary Subhash Chandra Garg mentioned on Saturday.
"Good days are ahead and lot of good work is happening in the economy. The economy is on a stage of take off where Indians can legitimately hold their heads high," he mentioned here.
In the first 40 years of independence, the country rarely grew at 3.five per cent and these days, 7-Eight per cent is the norm, Garg mentioned at a function to mark the platinum jubilee celebrations of the Institute of Cost Accountants of India.
"By 2030, we can legitimately expect to be a $10 trillion economy. That is the challenge. That is also the opportunity," he mentioned.
"Eight per cent growth is very much achievable... If we keep that... we can look forward to be an Indian economy of $10 trillion which would be the third largest economy in the world," Garg mentioned.
His feedback additionally come shut at the heels of latest World Bank knowledge showing that the country emerged as the sixth largest economy on the earth, surpassing France, in 2017.
In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of $2.59 trillion, relegating France to the seventh position, consistent with the knowledge.
"We expect the Indian economy to be a $1 trillion digital economy by 2022 and going forward... possibly by 2030, the digital economy would be half of the total economy," the Economic Affairs Secretary mentioned.
The country's economy grew at a seven-quarter prime of seven.7 per cent within the 3 months ended March 2018, helped through upper executive spending and investments.
"Good days are ahead and lot of good work is happening in the economy. The economy is on a stage of take off where Indians can legitimately hold their heads high," he mentioned here.
In the first 40 years of independence, the country rarely grew at 3.five per cent and these days, 7-Eight per cent is the norm, Garg mentioned at a function to mark the platinum jubilee celebrations of the Institute of Cost Accountants of India.
"By 2030, we can legitimately expect to be a $10 trillion economy. That is the challenge. That is also the opportunity," he mentioned.
"Eight per cent growth is very much achievable... If we keep that... we can look forward to be an Indian economy of $10 trillion which would be the third largest economy in the world," Garg mentioned.
His feedback additionally come shut at the heels of latest World Bank knowledge showing that the country emerged as the sixth largest economy on the earth, surpassing France, in 2017.
In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of $2.59 trillion, relegating France to the seventh position, consistent with the knowledge.
"We expect the Indian economy to be a $1 trillion digital economy by 2022 and going forward... possibly by 2030, the digital economy would be half of the total economy," the Economic Affairs Secretary mentioned.
The country's economy grew at a seven-quarter prime of seven.7 per cent within the 3 months ended March 2018, helped through upper executive spending and investments.
India expected to be $10 trillion economy by 2030: Economic affairs secy
![India expected to be $10 trillion economy by 2030: Economic affairs secy]()
Reviewed by Kailash
on
July 14, 2018
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