Goal of USD 5 trillion GDP appears to be case of ‘shifting goalposts, Will India Ever Be Able To Achieve 5 Trillion Economy Or Was It Another Jhumla

With Chief Economic Advisor V Anantha Nageswaran citing the IMF forecast that the Indian economy would cross USD 5 trillion by 2026-27, senior Congress leader P Chidambaram on Sunday said the goal of a USD 5 trillion GDP appears to be a case of “shifting goalposts” as the original target year was 2023-24.

Speaking at the finance ministry’s iconic week celebrations of ‘Azadi ka Amrit Mahotsav’, Nageswaran had said last week that IMF has forecast the Indian economy to cross USD 5 trillion by 2026-27. India’s Gross domestic product (GDP) in dollar terms has already crossed USD 3 trillion.

Reacting to the remarks, Chidambaram said the “goal of a USD 5 trillion GDP appears to be a case of ‘shifting goalposts'”.

The original target year was 2023-24, the former finance minister said, adding that, “We are nowhere near that goalpost.”

“Now, the Chief Economic Adviser has said we will achieve the goal ‘by 2027’,” he said.

“I think each one of the key players has a different goalpost: PM, FM, FS and CEA. Whenever the Economy reaches the milestone, one can say ‘We told you so’!” Chidambaram said.

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