India’s USD 5 Trillion Economy by 2024-25 – Truth or Myth?

Abstract

Purpose: This paper aims to analyse whether India’s goal of being a USD 5 trillion economy by the financial year 2024-25 is feasible or not. Research Implication: This paper provides a preliminary understanding of the topic. Future researchers are advised to use alternative research methods. Research Methodology: The research conducted is secondary and non-empirical in nature. Findings: Calculating for the GDP makes very evident that the India’s USD 5 trillion target will be met in fiscal year 2032-33, and not 2024-25. According to recent estimates, a more realistic target could be FY 2027-2028. The clear option here is to take advantage of all the prospects available in order to stick to the revised target year. The Government must also invest in infrastructure development. Originality/Value: This research is secondary in nature and focuses on analysing whether India’s economic goal is feasible or not. The research conducted also proposes measures that the government may take to aid in fulfilling India’s USD 5 trillion economy.