Finance Minister Piyush Goyal said that the country is likely to become a USD 5 Trillion economy in the next 5-years and thereafter desires to become USD 10 Trillion economies in the next 8-years. While presenting the 2019-20 Budget in the Lok Sabha, the Finance Minister said that the past 5-years of PM Modi-led NDA government have witnessed a wave of next-generation structural reforms that have to develop the stage for decades of high growth.
Mr. Goyal said that “we are poised to become a 5-trillion dollar economy in the next five years and aspire to become a 10-trillion dollar economy in the next 8 years thereafter.”
Mr. Goyal claims that India is solidly backed, tracked and marching towards growth, development, and prosperity, in the last 5-years have witnessed India being universally granted as a bright spot of the global economy.
The Finance Minister said that “the country witnessed its best phase of macro-economic stability during this period.”
Mr. Goyal continued that the country is a fastest-growing major economy in the world, which the GDP growth in the past 5-years had been higher than under any earlier governments.
“From being the 11th largest economy in the world in 2013-14, we are today the 6th largest in the world,” said Piyush Goyal adding that beyond generating high growth rate, the government masters restore fiscal balance and double-digit inflation.