"Our economy is looking up...": Vice President Jagdeep Dhankar
Jul 13, 2024
New Delhi [India], July 13 : Vice President Jagdeep Dhankar said on Saturday that he has no doubt that India's economy is looking up, as just in a decade, the country has taken a jump from slot number eleven to five.
Addressing the 3rd GCTC Cyber Security Conference here today, VP Dhankar said, "Just a decade ago, we were taken as a fragile five countries on the point of the economy. What a jump in a decade! From slot number eleven, we are at number five."
"This is one indicator we have to go to, another indicator, also an indicator of economic growth that is relatable to every individual, because our size at the moment has to be seen in the context of our demographic size. So I do not doubt that our economy is looking up, and it is looking up on account of various steps taken," he added.
Meanwhile, India can become the second largest economy by 2031 and the largest economy in the world by 2060, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI) during a program at the Lal Bahadur Shastri National Academy of Administration, Mussoorie.
"It is possible to imagine India striking out into the next decade to become the second largest economy in the world not by 2048, but by 2031 and the largest economy of the world by 2060," said Patra.
He also called India's journey in economic development an eventful and arduous one and added that during the last financial year 2023-24, India became a USD 3.6 trillion-dollar economy.
The Organisation for Economic Cooperation and Development (OECD) projects that in PPP (purchasing power parity) terms, India will overtake the US by 2048 to become the second-largest economy in the world.
