Need structural reforms to reach $5 trillion economy: Nirmala Sitharaman

Updated 3:24 PM, 5 July, 2019
Finance Minister Nirmala Sitharaman, The Federal, English news website
Nirmala Sitharaman: PTI.

Finance Minister Nirmala Sitharaman Friday said India needs to make structural reforms to achieve USD 5 trillion economy in the next few years.

Presenting the first Budget of the Modi government in its second term, she said the Indian economy, which stood at USD 1.85 trillion five years back, has reached USD 2.7 trillion now, and is within capacity to reach USD 5 trillion in the next few years.

ALSO READ: Nirmala Sitharaman only second woman to present Union Budget


She said the interim budget focused on 10-point vision to boost economy. In the current year, India’s economy will grow to become USD 3 trillion economy, sixth largest in world.

“We need to invest in infrastructure, digital economy and job creation in small and medium enterprises,” Sitharaman said.

ALSO READ: GDP never fell: Why Nirmala Sitharaman is right about demonetization

She said that in terms of Purchasing Power Parity (PPP), India has become the third largest economy in the world after the US and China.

The minister emphasised the need for structural reforms for achieving USD 5 trillion economy.

Get breaking news and latest updates from India
and around the world on