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Modi govt's $5-trn GDP target looks ambitious, says economist R Nagaraj

Soon after assuming office for the second term in May 2019, the Narendra Modi-led government set a target of taking the economy to USD 5 trillion over the next five years

Economists paint a grim picture, lower India's FY20 GDP growth forecast
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Talking about rising trade tensions, he said the prospects of a reversal in declining trends look very unlikely.

Press Trust of India New Delhi
India would need to grow at 9 per cent to achieve the target of USD 5 trillion economy by 2024, which currently looks "unimaginably ambitious", eminent economist R Nagaraj said on Sunday.

Soon after assuming office for the second term in May 2019, the Narendra Modi-led government set a target of taking the economy to USD 5 trillion over the next five years.

But there have been several clouds over the economy since then, leading many to question the maintainability of the target.

India's GDP is currently estimated at around USD 2.8 trillion.

"The target appears exceptionally daunting, if not

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