Economy will not reach 5 trillion mark: Manmohan

October 17, 2019 14:59

Former PM Manmohan Singh on Thursday spoke about the BJP government's USD 5 trillion economy target for India: I've said this publicly before that to reach a goal of $5 trillion by 2024, as against $2.7 trillion that we had in 2018, we would require a growth rate of 10-12% per annum. What's happening in the BJP regime is that govt is faced with prospect of a declining rate of growth year after year.

"IMF has come up with a statement that India's growth rate during the current fiscal year will be only 6.1% as against 7.3% mentioned some months ago. With growth rate declining year after year I don't think there's any hope of economy reaching the target of $5 Trillion by 2024."

Offense is the best form of defence, so Union Minister Piyush Goyal reacted saying Dr Manmohan Singh should reflect on his own failures. "Where he went wrong, why he couldn't maintain a strong economy and give an honest government, why he was so helpless that he had to obey orders from 10 Janpath and had no capacity to take his own decisions."

« Back to LIVE

TOP STORIES

Harvey Weinstein's 2020 rape conviction overturned

In a pivotal turn of events, the New York Court of Appeals has overturned renowned Hollywood producer Harvey Weinstein's 2020 rape conviction, marking a significant development in the legal saga that unfolded in the wake of the #MeToo...

Has Govinda Forgiven Krushna Abhishek?

Govinda surprised everyone by attending his niece Arti Singh's wedding.

Indian-origin man killed while evading arrest in US

A 42-year-old Indian-origin man in the United States was shot and killed by police in San Antonio after he struck two officers with his vehicle as they were trying to arrest him in connection with an aggravated assault case against a woman.

Modi is scared, he may cry on stage: Rahul

The former Congress chief accused Modi of 'diverting public attention' through various means.

Swapnil reveals how RCB bowlers stopped the rampaging SRH batters

Following his side's win over Sunrisers Hyderabad, Royal Challengers Bengaluru (RCB) bowling all-rounder Swapnil Singh said that the ball was stopping and the team felt that their 207-run target was defendable.