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$5 Trillion Economy - a Mere Pipe Dream?
By: Tupaki Desk | 5 July 2019 12:39 PM GMT
Is Modi Government day-dreaming on Indian economy? The maiden budget of Modi 2.0 has promised lot of things to lot of people. It showered soaps and brought in several measures. It claimed that all these measures were aimed at strengthening the economy. But, the big question is - will economy transform itself in just five years?
Finance minister Nirmala Sitharaman has said that India has a 3 trillion dollars economy and vowed to turn it into a five trillion dollar economy in just five years. But, if the current economic scenario is any indication, this is quite an arduous task. The country is still reeling under the impact of the demonetisation of 2016 and the GST policy in 2017. Several small and medium industries have been closed and more companies are on way to closure. Given this scenario, how can one make the economy gallop in just five years and transform it into a five trillion dollar economy.
Experts say the country can never reach that stage with just 66 per cent literacy. The situation in rural areas is worse off. The rural incomes are falling and the farmers are incurring crippling losses. The IT sector too is none too inspiring. The government statistics too admit that the job creation has not been as per expectation. Given this scenario, is not $5 trillion economy mere day-dreaming?
Finance minister Nirmala Sitharaman has said that India has a 3 trillion dollars economy and vowed to turn it into a five trillion dollar economy in just five years. But, if the current economic scenario is any indication, this is quite an arduous task. The country is still reeling under the impact of the demonetisation of 2016 and the GST policy in 2017. Several small and medium industries have been closed and more companies are on way to closure. Given this scenario, how can one make the economy gallop in just five years and transform it into a five trillion dollar economy.
Experts say the country can never reach that stage with just 66 per cent literacy. The situation in rural areas is worse off. The rural incomes are falling and the farmers are incurring crippling losses. The IT sector too is none too inspiring. The government statistics too admit that the job creation has not been as per expectation. Given this scenario, is not $5 trillion economy mere day-dreaming?
