India may become $5 trillion economy by 2025-26, says CEA Nageswaran

India is likely to become a $5 trillion economy by the financial year 2025-26 or 2026-27 if the GDP continues to grow at around 8 per cent, Chief Economic Advisor V Anantha Nageswaran said on Tuesday.

"If we continue to retain the path of 8 per cent of real GDP growth, it will translate into even 8 per cent dollar GDP growth. If we extrapolate it, we should be a $5 trillion economy in terms of nominal GDP in the Financial Year 2025-26 or the Financial Year 2026-27," Nageswaran said during a post-Budget press conference.

In 2019, Prime Minister Narendra Modi envisioned to make India a $5 trillion economy by the Financial Year 2024-25.

The Indian economy is projected to grow at 9.2 per cent in the current financial year.

According to the Economic Survey 2021-22 tabled in Parliament on Monday, the GDP growth is likely to remain 8 to 8.5 per cent in 2022-23 and 7.1 per cent in 2023-24.

( With inputs from ANI )

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