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5 Trillion USD by 2029

Published on May 05, 2022
Current Context: The IMF has projected that India would achieve the 5 Trillion USD mark by the year 2029.
5 Trillion USD by 2029
  • India is a 3 trillion USD economy and stands as the 6th largest in the world. The Government of India had put forth her ambitious target of achieving 5 Trillion USD by 2024. However, COVID 19 pandemic created havoc on all sectors of the economy by forcing the markets to close.
  • Meanwhile, the International Monetary Fund has projected that India would be able to achieve the 5 Trillion mark by 2029, in her World Economic Outlook Report 2022, released recently.
  • IMF projects India to grow at 8.2 % per annum in FY 2022. The report also finds that the Indian rupee will depreciate further to 94.4 rupees per dollar by 2029.

Question:

Q.1 By which year has the IMF projected India to achieve the 5 Trillion USD mark?
a. 2028
b. 2029
c. 2030
d. 2024
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