Saturday, April 23, 2016

India to become $10 trillion economy by 2032: Amitabh Kant

NEW DELHI: Niti Aayog CEO Amitabh Kant on Thursday gave a 2032 date to India becoming a $10-trillion economy, a year after Prime Minister Narendra Modi said India should dream of a $20 trillion economy but did not fix a target. 

The PM, while speaking at the ET Global Summit last year had asked why the country could not dream of a $20-trillion economy and said his government was preparing the ground for it. Kant, in a presentation before the Prime Minister on Thursday, said the count .. 

When contacted by ET, Kant said the aim was to create 175 million jobs and achieving zero percent of Below Poverty Line population by 2032. "If we achieve a $10 trillion economy target by 2032 by a 10% growth rate year-on-year, the compounding effect would be such that ours could be a $20-trillion economy in the next 6-7 years after 2032. The 10% y-o-y growth is the biggest challenge." 

In his presentation, Kant said if India grows at 7% till 2032, its GDP will only be $6 trillion i .. 

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