Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
Home Nation

Bharat to become $5 trillion economy early in Amrit Kaal: FinMin

Bharat will become a $5 trillion economy early in the ‘Amrit Kaal’ on the path to achieve the goal of becoming an advanced economy by 2047, Finance Minister of State Pankaj Chaudhary said on Monday.

Editor Ritam English by Editor Ritam English
Dec 4, 2023, 04:47 pm IST
Bharat to become $5 trillion economy early in Amrit Kaal: FinMin

Bharat to become $5 trillion economy early in Amrit Kaal: FinMin

FacebookTwitterWhatsAppTelegram

Bharat will become a $5 trillion economy early in the ‘Amrit Kaal’ on the path to achieve the goal of becoming an advanced economy by 2047, Finance Minister of State Pankaj Chaudhary said on Monday.

The International Monetary Fund (IMF) has projected Bharat to become a $5 trillion economy with the third largest GDP in 2027-28. The $5 trillion milestone will be crossed with the backing of a strong rupee which will result from macroeconomic stability, he said in a written reply in the Lok Sabha.

“The government has set the goal of becoming an advanced economy by 2047. In the process, it will become a $5 trillion economy early in the Amrit Kaal,” stated Chaudhary.

At the end of 2022-23, the Indian GDP stood at $3.7 trillion. In 1980-81, size of the Indian economy was US$ 189 billion, which increased to $326 billion after a decade. In 2000-01, the size of the GDP rose to $476 billion. In 2010-11, Bharat’s GDP jumped to $1.71 trillion, and further increased to $2.67 trillion in 2020-21. Chaudhary said the exchange rate is not an overlooked factor as it ranks Bharat’s GDP size in the world.

“Bharat is a market economy, and the government monitors economic progress through market-determined GDP and exchange rate,” said Chaudhary. He further said both domestic and international markets are the mechanisms that determine Bharat’s GDP, exchange rate and contribution of various sectors to GDP.

Contribution of agriculture, industry and services to nominal GDP in 2022-23 stood at 18.4 per cent, 28.3 per cent, and 53.3 per cent, respectively. Chaudhary said the government also contributes to economic progress through policy interventions, including the measures announced in annual budgets.

Major initiatives taken by the government in the last 9 years for directly increasing the GDP include, implementation of the Insolvency and Bankruptcy (IBC) Code, recapitalisation of public sector banks, rollout of Goods and Services Tax (GST), reduction in corporate tax, boost in effective capital expenditure, introduction of Production Linked Incentive (PLI) scheme in 14 sectors, continuous liberalisation of the FDI regime, and building of digital infrastructure.

Tags: BharatRitam newsInternational newsNational newsIndian newsFinance ministerIndiaritam
ShareTweetSendShare

Related News

Karyakarta Vikas Varg – II, Closing Ceremony
Nation

Karyakarta Vikas Varg – II, Closing Ceremony

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!
Nation

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?
Nation

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?

20 Unsung Heroes Honored with Padma Awards in 2025 (PC: TDTY)
Nation

Real Heroes of India: Padma Awards 2025 Celebrate 20 Unsung Champions

Muslims abused for following HinduRituals (PC: TDTY)
Nation

Faith Under Fire: Muslim Celebrities Trolled for Embracing Hindu Traditions

Comments

The comments posted here/below/in the given space are not on behalf of Ritam Digital Media Foundation. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

Karyakarta Vikas Varg – II, Closing Ceremony

Karyakarta Vikas Varg – II, Closing Ceremony

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?

20 Unsung Heroes Honored with Padma Awards in 2025 (PC: TDTY)

Real Heroes of India: Padma Awards 2025 Celebrate 20 Unsung Champions

Muslims abused for following HinduRituals (PC: TDTY)

Faith Under Fire: Muslim Celebrities Trolled for Embracing Hindu Traditions

Is Bihar Museum India’s Most Advanced Cultural Marvel? Discover How It Forms Ancient Glory with Original Sustainability

Is Bihar Museum India’s Most Advanced Cultural Marvel? Discover How It Forms Ancient Glory with Original Sustainability

Swadeshi Wave Sweeps India (PC: The Daily Guardian)

From Ganpati Idols To Microchips: India’s Swadeshi Revolution Gains Momentum

Derogatory and vulgar comments against IndianwomenbyPakistani People (PC: TDTY)

How Shameful Can Pakistan Be: Series of Vulgar Attacks on Indian Women (2023 to 2025) By Pakistani People

Security Forces in Chhattisgarh (PC: Hindustan Times)

From Guns to Surrender: Over 200 Naxals Eliminated in 2024 as Top Commanders Fall Across States

National/Criminal Conspiracies From Madrassas (PC: The Hindu)

Madrasa Network Exposed: A Decade of Anti-National Plots (2016–2025)

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
  • About & Policies
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies