Sunday, January 29, 2023

A $5 trillion Indian economy by 2025: A question of feasibility ⭐

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The Indian government has been dreaming of the Indian economy becoming a $5 trillion one by 2025. No wonder, it is a very ambitious goal. But, keeping feet on the ground, is it possible and feasible to reach the target? India’s current GDP is likely to trend around $3 trillion in FY2022. We are targeting to add another $2 trillion to the Indian economy to reach $5 trillion by FY2025 i.e., in another three years. That’s almost an 18% compounded annual growth rate (CAGR). The Asian Development Bank (ADB) forecasts India’s GDP growth to moderate to 7.5% in 2022-23 from an estimated 8.9% in 2021-22 but says that it will pick up to reach 8% in 2023-2024. RBI’s latest estimate for GDP growth in India in 2022-23 is 7.2%, down from the 7.8% estimated in February. Even more worrying, though, is its inflation projection — an average of 5.7% in 2022-23, up from the 4.5% projected in February. Both estimates assume the average price of...

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