Indian economy has slipped in global GDP rankings which highlights the challenges India has to face in achieving this year’s target of $ 3 trillion economy. What reforms would you suggest in order to provide the required boost to the economy?
Answer: India has slipped one notch in the World Bank’s Gross Domestic Product (GDP) rankings in 2018, and is now the seventh-largest economy with the United Kingdom and France ahead of India. India’s GDP is $2.72 trillion currently and it has set the target of becoming a $5 trillion economy in GDP terms by 2024, and a $3 trillion economy in the current financial year. The slip in rankings highlights the challenges India will have to face in achieving its targets.
Requirements for achieving the target of $ 5 trillion
- The country will need to grow by 9% ....
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