Let's Discuss

Let’s Discuss – Day 27 | Participate in the Group Discussion

Team GD Ideas
. Update: Aug 7, 2019 10:56 pm
4

can India become a $5 trillion economy by 2024

Note :- If possible, please write your comments in the comment section of the embedded youtube video, so that all comments will be at one place.

Today is the 27th day of ‘Let’s Discuss’ program. This program is like a virtual group discussion. we’ll give you a GD topic on every Tuesday. Go to the embedded youtube video and express your thoughts on the topic through the comment section by tomorrow morning 10 o’clock. We’ll read each and every comment and will pin the best comment.

The aim of this program is to create a platform for students to express their views, to learn from the opinions of others and to finesse their articulation skills.

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4 Comments

Prashanth Sai, Aug 2, 2019 @ 6:40 pm Reply

I’m very sure that our country could reach what it has targeted, that is an economy of USD 5 trillion. This is very obvious by considering the previous growth on the graph. We know that India is the 6th fastest growing country according to the world bank’s report and one should notice that India is just less than half a way to reach the target. By the year end we are going to make it USD 3 trillion economy. The aim is very clear and the confidence is too well after knowing that we have made over USD 1 trillion in the span of 5 yrs and where it has taken 50+ years to become USD 1 trillion economy before that. So it’s not going to be a wild goose chase.
Let me share the reasons for my confidence of reaching the targeted economy. Everyone remembers the move of demonetization and its effects. It has its effects for almost 2 years on the country and its people. Yet we gave USD 1 trillion with 3 year good performance. Digitization has evolved and people’s standards are also being increased. So we can expect a lot of progress in the country in the coming years. Many foreign companies are stepping forward to invest in India. Foreign relations are getting better so our goods in the foreign market can perform better. India is the home of youth. Youth of today’s generations are actively participating to evolve as entrepreneurs and our country and state governments are providing enough support to them which then can improve our service and business sectors. Credits are being provided for small industries and to the working institutions of remote areas to transform themselves into better working bodies. This way production of goods can be encouraged. Our major factories and Industries are capable of providing quality goods that can gain profits. RIL, HDFC, TCS crossed USD 100 billion market capitalization. TATA being most ethical company. the coming era of electrical vehicles by FAME 2 project that can aid the economy as well. Banks are getting back on track, as an instance, PNB recovered 20000 crore bad loans. One must notice that India ranked fourth in terms of expenditure on its military forces after USA, China and SA. So we could figure out that India has got lot of potential in it.
from the above views I could able to say India can touch USD 5trillion by 2024.
Tinku Paul, Aug 1, 2019 @ 7:17 am Reply

According to me India can reach become a 5 trillion economy by 2024 it requires some structural reforms . We know already implemented GST and direct benefit transfer. India needs to grow 8 percent or more annually. Now India’s grow is 7 percent. Niti Saying CEO said economic growth is driven by private sector so India need to create right environment for the private sector. Modiji already promised by 2022 farmers income will be doubled. Country’s economy depend on Agriculture and Industry if Agriculture income will increase and new industry set up then Indian economy will be reach in 5 trillion. This will make India will be the 3rd largest economy in the world.
SHUBHAM AJBALE, Jul 31, 2019 @ 9:44 am Reply

right now the USD$1=70 rupees
to achieve India an USD$5 trillion economy that is around 35000000 crore indian rupees of the current GDP prices.
now the Indian economy is around USD$2.7 trillion= 19010164 crore rupees.
now to achieve the big gap between 2.7 to 5 trillion USD india has to take and major decision to lift the economy.
according to word bank and IMF report 2017 india is the world fastest growing economy in which it is ranked 6 and 7 respectively.
but the per capita GDP list india rank is 139th .
to achieve the desire of becoming and 5 trillion USD economy India has to increase its output by 84%. to achieve this output India should increase domestic saving by 39% from 30% and investment by 41% from 32%.
this way india can achieve USD$5 trillion economy by 2024.
Kajal, Jul 30, 2019 @ 5:53 pm Reply

I think india have many challenges to face to become a $5trillion economy. I think it is not possible for india to curb this challenges as our economy currently is 2.8 trillion which is approximately half which pm modi os desiring to have bu 2024. Our current growth rate is at 6% and if we went to grow our economy first is manufacturing units . If india remain growing at this rate for the next few years I don’t think it possible for india to grow to 5 trillon China which may don’t have that much good infrastructure but manufacturing units are very strong. And in india our youth are unemployed and this unemployment rate is increasing year by year which is now 6.1%. Our country infrastructure is that bad in some area that it feels like undeveloped part of africa. Level of politics in our country is still the same and then how can modiji expect that our country wull grow to this level. Modi sir ambitions are very good but I don’t think the way we are growing the possibility of india to become 5 trillion economy is very low.