Focusing on roadmap to make India a $5 trillion economy: Govt
1 year, 4 months ago

Focusing on roadmap to make India a $5 trillion economy: Govt

Live Mint  

New Delhi: The government’s roadmap to makinge India a $5 trillion economy comprises measures like focussing on inclusive growth, promoting digital economy, fintech, technology-enabled development, energy transition and climate action, and relying on a virtuous cycle of investment and growth, minister of state for fnance Pankaj Chaudhary said on Tuesday. Responding to an unstarred question in the Rajya Sabha, Chaudhary said that major reforms like Goods and Services Tax, Insolvency and Bankruptcy Code, a significant reduction in the corporate tax rate, the Make in India and Start-up India strategies, and Production Linked Incentive Schemes, among others, will initiate growth of the Indian economy. "The Government has also focused on a capex-led growth strategy to support economic growth and attract investment from the private sector, increasing its capital investment outlay substantially during the last three years," Chaudhary said. The Central Government has budgeted ₹13.7 lakh crore, for 'effective capital expenditure' for 2023-24, Chaudhury said, adding that the strong push by the government is expected to attract private investment and propel economic growth.

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