Indian Economy Set to Triple

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The size of the Indian economy will more than double to USD 5 trillion if 7 per cent growth rate is sustained for next 10 years, Minister of State for Finance Jayant Sinha said. If we grow at 7 per cent, we will double our economy in a decade. We are going to go from USD 2 trillion economy to USD 4 trillion economy, if the rupee strengthens, to may be USD 5 trillion economy. That’s going to happen, we just have to keep doing what we are doing,” Sinha said at the Ficci AGM here. “About USD 4 trillion GDP per capita will roughly double to USD 3,500 from about USD 1,600 per capita today. At USD 3,500, we are solidly middle income,” he added. On fiscal deficit, he said the government will meet the target for current as well as for the next fiscal. With regard to key legislations, Sinha said “on our side we are ready and prepared to introduce the bankruptcy legislation. If indeed we are able to bring in the bankruptcy legislation, it will be the second best relative to getting GST.”