Here's why Amitabh Kant is optimistic that India will reach its $5 trillion goal

During the 'Republic Summit 2019' responding to a question on whether India would reach its target of being $5 trillion economy, NITI Ayog's CEO Amitabh Kant stated that, "First of all I am an optimist on this. We have in the last five years grown at an average of 7.5 per cent. If you go back in time 2004, 2005 onwards we know have got over 300 million above the poverty line and looking forward by the 24/25 financial year, to be a $5 trillion economy we have to grow at an average of about 8.3 per cent to 8.4 per cent of real GDP growth. Normal GDP has to be at 12 per cent."

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'This is very doable'

Kant further added, "In my mind, this is very doable, considering the fact that the government has brought in a range of structural reforms. Firstly, the Goods and Services Tax. Secondly, the insolvency and bankruptcy code. Thirdly RERA. Fourthly, I think the direct benefit transfer. 

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PM Modi is confident

Prime Minister Narendra Modi, on Tuesday, November 26, while delivering the keynote address at the Republic Summit 2019 opined, with the motto of 'Nationa First,' he is confident that India will achieve its goal of 5 trillion dollar economy. PM Modi reflected upon the transformation of India in the past 5 years as he highlighted his government's accomplishments. He also spoke about the feeling of responsibility towards our nation that is giving India new energy.

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'India will achieve all its goals'

PM Modi, while delivering the keynote address at the Republic Summit 2019 said, "Friends, along with constant efforts to improve the standard of living in India, the country has also set an aim of USD 5 trillion economy and I am confident that with the motto of 'Nation First' will get the desired result of all our efforts and the country will also achieve all its goals. Friends, I hope that in this summit, with this feeling, the new possibilities of a new India will be discussed extensively at new opportunities."

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