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India can still be $5 trillion economy, says PM Modi

PM Modi says despite the fact that the country's plans were shattered by the pandemic, it'll try and run faster next year to make up for the losses in the current year

twitter-logoBusinessToday.In | October 29, 2020 | Updated 10:18 IST
India can still be $5 trillion economy, says PM Modi
Prime Minister Narendra Modi

Prime Minister Narendra Modi has said he's optimistic about achieving the $5 trillion dollar economy target by 2024, despite coronavirus pandemic ravaging the Indian economy. The Prime Minister said his government has a record of achieving targets well before the deadline and this target will also be achieved.

The PM said some people who are pessimistic talk about "despair and despondency". "However, if you discuss with optimistic people, you will hear ideas

and suggestions on how to improve. Today, our country is optimistic of the future, it is optimistic of reaching the $5 trillion target," he said during an interview with The Economic Times.

Also read: Modi govt's $5-trillion GDP target by 2025 'simply out of question': Former RBI Governor C Rangarajan

He said the whole country should feel proud and strive towards more hard work after seeing corona warriors working 18-20 hours a week. The PM said despite the fact that the country's plans were shattered by the pandemic, it'll try and run faster next year to make up for the losses in the current year.

"India is the third largest economy in terms of purchasing power parity. We want India to become the third largest in terms of current US dollar prices as well. The $5 trillion target will help us achieve that," Modi said during the interview.

Talking about the previous targets, the PM said India achieved targets like rural sanitation, village electrification, Ujjwala connections well before the set deadline and that people have confidence that his government will achieve this target as well.

Also read: Coronavirus vaccine will be ready for public use by December: Adar Poonawalla

Also read: India's $5 trillion dream is attainable if economy grows at this rate

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