Summary:
Hyderabad, Oct 8 (PTI): India becoming a USD five trillion economy by 2025 is impossible under the current circumstance and the country needs to grow at nine per cent per annum for the next five years in order to achieve that, former Reserve Bank Governor C Rangarajan said on Friday.
Delivering his address at 11th Convocation of ICFAI Foundation for Higher Education, Rangarajan said attempts should be made to curb the adverse impact of a third wave of COVID-19, if it happens and both the coverage of vaccination and the pace of investment in health infrastructure should be accelerated within the strategy of expanding the overall infrastructure investment.
"A few years ago, there was the hope that India would become a USD five trillion strong economy by 2025.
That has become impossible.
India"s economy was USD 2.7 trillion strong in 2019.
At the end of March 22, we will still be at the same level.