Raghuram Rajan, former RBI Governor, recently stated that achieving a $5 trillion economy by 2025 in India is nearly impossible.
India's projected growth for FY 2023-24 is 6.3%, with a slight dip anticipated in the following fiscal year.
The central government aimed to achieve a $5 trillion economy, but financial institutions predict this goal may be reached by 2027.
Many supporters are echoing Rajan's viewpoint, citing concerns related to India's current GDP growth and future economic projections.
The debate reflects diverse opinions on the feasibility of India reaching the ambitious $5 trillion economy target within the given timeframe.