India may become a USD five trillion economy by 2028-29 only if the GDP grows at nine per cent per annum consistently for the next five years, former RBI Governor D Subbarao said on Monday. Speaking at Federation of Telangana Chamber of Commerce and Industry on India @75- Marching Towards USD 5 Trillion Economy on the occasion of 75 years of Indian Independence.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
He said there are eight key challenges for India to overcome to achieve the dream of 5 trillion economy. The challenges are increasing investment, improving productivity and education and health outcomes, creating jobs, raising agriculture productivity, maintaining macroeconomic stability, managing global mega trends and improving governance, it said. Subba Rao further said that PM Modi triggered a debate on State subsidies and all political parties are at fault for the situation.
He cautioned that the States and union government must realise that, the country does not have surplus budgets and while some safety net is surely needed. They must be cautious and selective on what freebies to be given from borrowed money and the future generations should not be burdened with unnecessary debt burden.
Find More News on Economy Here
The Gujarat Chief Minister Bhupendra Patel has made an announcement about awarding the Vishisht Gujarat…
Reserve Bank of India has granted approval for the appointment of Anup Kumar Saha as…
Governor Gavin Newsom has approved the Assembly Bill 1267 (AB 1267), which bans child marriage…
The manufacturing sector in India saw a pick-up in September 2026, as the HSBC India…
Narendra Bhooshan, who is the 1992-batch of Indian Administrative Service (IAS) from the Uttar Pradesh…
Indian batsman Rohit Sharma crossed the 12,000 ODI runs mark in the second ODI match…