Corona's dream of a ટ્ર 5 trillion economy by 2025 will not come true

New Delhi: The former RBI governor has expressed fears that the Modi government's dream of making India a ની 3 trillion (કરોડ 1 trillion) economy by 203 will not come true.

Rangarajan said that due to the global epidemic Kovid-12 that spread from China in 2015, it is now almost impossible to achieve this target by 202. In addition, to achieve the 2 trillion economy target, India will have to achieve a steady growth rate of 3% for the next 3 years.

At the end of the second decade of the 21st century, hopes were raised and the government set a target of ભારત 5 trillion economy by 203. However, following the outbreak of the corona virus, this is now becoming impossible.

In 2015, our economy was worth ૭ 4.5 trillion and now, at the end of FY20, we will be out of Corona and back to the same level. To become a પાંચ 5 trillion economy, India will have to achieve a growth rate of nine per cent per annum for the next five years, which is almost impossible given the current situation.

He said it was important for the government to achieve this goal but it would be difficult to achieve it without economic reforms. However, it is a good thing that the economy has picked up speed now that the lockdown has been relaxed. Current economic efforts should be made in view of the possibilities of the third wave of covid. The government also needs to invest in the health sector to increase vaccination coverage. Rapid growth is needed to offset the losses in production over the past two years.

However, advising the government, Rangarajan said the government's revenue was gradually improving. Now at this stage the government needs to focus on increasing costs. Long-term infra and other development works at this stage will be of great benefit in the long run. The government should no longer worry about the fiscal deficit as revenue grows and the opposition should focus on increasing expenditure by keeping the fiscal deficit budget target at 7.5%.