Close X
Monday, November 11, 2024
ADVT 
India

India to become world’s 3rd largest economy by 2027-28: Sitharaman

Darpan News Desk IANS, 10 Jan, 2024 01:54 PM
  • India to become world’s 3rd largest economy by 2027-28: Sitharaman

Gandhinagar, Jan 10 (IANS) India will become the world’s third-largest economy by 2027-28, with its GDP surpassing $5 trillion during that period, Finance Minister Nirmala Sitharaman said on Wednesday at the Vibrant Gujarat Global Summit.

The estimate that India will be at least a $30 trillion economy by 2047 is a conservative estimate, the Finance Minister said.

“We are not only aiming to become a $30 trillion economy by 2047, but also aim to ensure inclusive growth,” she explained.

She emphasized that the nation's goal extends beyond achieving economic milestones, with a commitment to fostering inclusive growth in the long term.

The finance minister said India has received USD 919 billion in foreign direct investment in 23 years till 2023 as much as 65 per cent or USD 595 billion of which came in the last 8-9 years of the Narendra Modi government.

She also said that since 2014, the approach between states and Centre has been of cooperative federalism, competitive federalism and collaborative federalism. That is how today you find states competing with one another on who will contribute how much towards India becoming a developed nation in 2047, she added.

India’s GDP is currently around USD 3.4 trillion making it the fifth largest economy in the world after the US, China, Japan and Germany. The country is also the fastest growing major economy with a GDP growth of 7.6 per cent in the July-September quarter this year.

MORE India ARTICLES

Nari Shakti Vandan Adhiniyam a historic legislation, will further boost women empowerment: PM Modi

Nari Shakti Vandan Adhiniyam a historic legislation, will further boost women empowerment: PM Modi
Prime Minister Narendra Modi on Wednesday thanked MPs across party lines as the Lok Sabha passed the Women’s Reservation Bill, saying that it is a historic legislation that will further boost women empowerment and will enable greater participation of women in the political process.  

Nari Shakti Vandan Adhiniyam a historic legislation, will further boost women empowerment: PM Modi

PM suggests naming old Parliament building Samvidhan Sadan as MPs move to new building

PM suggests naming old Parliament building Samvidhan Sadan as MPs move to new building
Addressing a function in Central Hall to commemorate the 75 years of Parliament, Modi said, "I have a suggestion. Now, when we are going to the new Parliament, the dignity of the old building should never go down. This should not be left just as the old Parliament building. So, I urge that if you agree, this should be known as 'Samvidhan Sadan'."

PM suggests naming old Parliament building Samvidhan Sadan as MPs move to new building

BJP wants to take credit for Women’s Reservation Bill: Punjab Congress leader Bajwa

BJP wants to take credit for Women’s Reservation Bill: Punjab Congress leader Bajwa
Bajwa said the BJP must know that “the Women’s Reservation Bill is the brainchild of the Congress”. It was former Prime Minister Rajiv Gandhi who in May 1989 introduced the Constitution Amendment Bill to provide one-third reservation for women in rural and urban local bodies.

BJP wants to take credit for Women’s Reservation Bill: Punjab Congress leader Bajwa

Bus falls into canal in Punjab; five killed, two missing

Bus falls into canal in Punjab; five killed, two missing
Five passengers were killed and 10 others injured when a private bus lost control and fell into the Sirhind feeder canal on the Muktsar-Kotkapura highway while crossing a bridge in Punjab's Muktsar on Tuesday, police said. Two people were reportedly missing.

Bus falls into canal in Punjab; five killed, two missing

'Absurd, motivated': India rejects Canada's allegations over killing of Hardeep Nijjar

'Absurd, motivated': India rejects Canada's allegations over killing of Hardeep Nijjar
India on Tuesday rejected claims by the Canada government that it had an involvement in the killing of Hardeep Singh Nijjar. Terming them as "absurd and motivated" the external affairs ministry in a statement said, "We have seen and reject the statement of the Canadian Prime Minister in their Parliament, as also the statement by their Foreign Minister. Allegations of Government of India's involvement in any act of violence in Canada are absurd and motivated."

'Absurd, motivated': India rejects Canada's allegations over killing of Hardeep Nijjar

Inter-state drug trafficker held with heroin worth Rs 1.5 cr in Delhi

Inter-state drug trafficker held with heroin worth Rs 1.5 cr in Delhi
Delhi Police’s Crime Branch has arrested an inter-state drug trafficker and recovered 1.5 kg of heroin worth over Rs 1.5 crore in the international market. The drug trafficker was identified as Juned Khan alias Juber, (31), a resident of Bilaspur in Uttar Pradesh, a police officer said on Tuesday.

Inter-state drug trafficker held with heroin worth Rs 1.5 cr in Delhi