USD 5 trillion GDP will be achieved by 2026: Chandrashekhar

13 Jun 2022 , 09:46 AM

Senior Congress leader P Chidambaram’s comment that the objective of a USD 5 trillion GDP looks to be a case of “moving goalposts” because the initial target year was 2023-24 was deemed “extremely erroneous” by Union minister Rajeev Chandrasekhar on Sunday (12-06-2022).

The Minister of State for Electronics and Information Technology, as well as Skill Development and Entrepreneurship, told reporters in Maharashtra that India has grown to a USD 3 trillion economy and would grow to a USD 5 trillion economy by 2026.

Chidambaram responded to Chief Economic Advisor V Anantha Nageswaran’s claims that the IMF has expected the Indian economy to reach USD 5 trillion by 2026-27, saying that the “target of a USD 5 trillion GDP looks to be a case of shifting goalposts’.”

“Chidambaram might propose that we adopt the American economic model. He’ll say anything, and what he’s stated is his personal opinion, which is completely incorrect. He’s been wrong before and will continue to be wrong. “There’s a slang term for folks who are caught with their hand in the cookie jar,” Chandrasekhar explained.

He stated that the objective of achieving a USD 5 trillion GDP by 2026 is feasible. “Before the coronavirus epidemic, we had established this aim. We’ve grown to a USD 3 trillion economy. We will be a USD 5 trillion economy by 2026. India’s post-COVID expansion as an exporting nation and digital manufacturer is a critical component. With the same speed of work as before COVID, a USD 5 to 10 trillion dollar dream may be realized, “according to the minister.