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India on way to becoming 5th largest economy, says FM

Editorials

In India

New Delhi: Finance Minister Arun Jaitley on Thursday said India is expected to register a growth rate of 7.2-7.5% in the second half of the current fiscal and is on way to becoming the 5th largest economy of the world.

While unveiling the Budget 2018-19, he said, India has grown on an average of 7.5% in the first three years of the current government and has become a $2.5 trillion economy.

“We hope to grow at 7.2 to 7.5% in the second half of the current fiscal,” Jaitley said in the Lok Sabha.

India has already become a 7th largest economy of the world, he said, adding that it is expected to become 5th largest economy soon.

As per the CSO estimate Indian economy is expected to grow at 6.5% in the current fiscal, ending 31 March.

For 2018-19, the economy is likely to grow at 7-7.5% as per the Economic Survey tabled in Parliament earlier this week.

GDP growth in first quarter of 2017-18 had moderated to 5.7%, the lowest in the three years. In the second quarter, it recovered to 6.3%.

PTI

 

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