India will grow at a rate of over 50% and touch five trillion dollars in three years

- A claim made in the Economic Review published by the Ministry of Finance

- If growth continues at the same rate, the Indian economy will touch seven trillion dollars by 2030

New Delhi: An economic review prepared by the Office of the Chief Economic Adviser has expressed hope that the Indian economy will grow at a rate of more than seven percent in the coming years, the finance ministry said in a statement.

Chief Economic Adviser V Nageswaran has clarified that the Economic Survey of India prepared by the Department of Economic Affairs is not. The economic survey will be presented before the full budget to be presented after the general election.

The review stated that the size of the Indian economy could touch five trillion dollars in the next three years and due to continuous reforms, the size of the Indian economy could reach seven trillion dollars by 2030.

Ten years ago, the Indian economy was the tenth largest economy in the world at $1.9 trillion. With a size of $3.7 trillion in the financial year 2023-24, the Indian economy ranks fifth in the world. The review states that economic reforms in the last ten years have boosted the Indian economy. The review report also aims to make India developed by 2047. Strong domestic demand has helped keep GDP around seven percent over the past three years, the report said.

Chief Economic Adviser V Aneth Nageswaran has said that the global economy is facing difficulty in sustaining its recovery after Corona. In 2024, there is a possibility of disruption in the supply chain. If this bottleneck continues, it will adversely affect transport costs, economic output and inflation across the world.

No threat to India's economic growth for 5-7 years: Jefferies report

Indian economy has been growing faster than other leading countries of the world for the last few years. India is not in danger of maintaining this achievement for the next few years, according to a recent report by global brokerage firm Jefferies. According to this report, the Indian economy will continue to grow at a rate of 6 to 7 percent for the next five to seven years. Indian economy is getting help from capital expenditure i.e. capex. Even if the capex is reduced in the interim budget, it will not have any impact on the broader capex cycle. It will be reimbursed from private capex. Jefferies is also very positive for the Indian stock market. Nifty may touch 24000 by the end of 2024. Foreign portfolio investors are likely to buy heavily in the Indian market in 2024.