Indian economy to witness a three-fold jump from $ 2.11 trillion in 2015-2016
Words: FWD Media Images: Various sources
After the third Governing Council meeting, Niti Aayog Vice-Chairman Arvind Panagariya said that India’s GDP is poised to grow at eight per cent over the next 15 years. He also said that the size of the country’s economy would be around Rs 470 lakh crore ($ 7.25 trillion) by 2030 – a three-fold jump from $ 2.11 trillion in 2015-2016.
“We would grow at 8 per cent in rupee and 10 per cent in dollar terms,” he added. Further elaborating on the point, Niti Aayog CEO Amitabh Kant said that this is an average growth rate as it could not be the same in all years.
Making a presentation on the think tank’s 15 year long term vision, including seven-year strategy and three-year action agenda, Panagariya listed as many as 300 action plans which is aimed at accelerating India’s economic growth. “We will work with states to improve basic services and infrastructure, in districts and regions which require specific attention. ” Kant added.