Niti Aayog Arvind Panagariya

India's GDP will reach $5 trillion in 2026: Ex-NITI Aayog VC Panagariya

India will become the world's third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial Lecture titled 'India at 125: Reclaiming the Lost Glory and Returning the Global Economy to the Old Normal', he said it is unlikely that GDP in current dollar terms of either Germany or Japan will cross USD 5 trillion-mark in the coming three years. Japan will have to sustain a growth rate of 3.5 per cent in current dollar terms to reach USD 5.03 trillion in 2027 from its 2022 level of USD 4.2 trillion, he said. At the 4 per cent annual growth rate, German GDP will rise from USD 4.4 trillion in 2023 to USD 4.9 trillion in 2026 and USD 5.1 trillion in 2027, he said. "Given these estimates, how soon can the Indian GDP cross the GDPs of these two countries?.. that is the question," Panagariya said. I

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Panagariya also argued that fiscal stimulus, which works by creating demand, cannot go far when there are no workers to help generate a supply respons

Focus more on reducing poverty than inequality: Arvind Panagariya

Not possible to achieve equality till there is gender equality, he added

Govt may revisit GST in 2-3 years, unify many rates: Arvind Panagariya

One of the central principles of the GST is that we do not want to tax input users, he adds

Govt may revisit GST in 2-3 years and unify many rates: Arvind Panagariya

Niti Aayog's outgoing V-C says critics overreacted and overestimated the costs of demonetisation