Gorakhnath Peeth have spread knowledge in eastern UP : Prez

Gorakhnath Peeth have spread knowledge in eastern UP : Prez

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DRI seizes 66 kg of foreign origin gold valued at Rs 21 cr, 4 held

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India recorded its best ever performance at CWG, Asian Games in 2018

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Direct Tax collection up to Nov. 2018 stands at Rs 6.75 lakh cr

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Speed Post News Network New Delhi : The provisional figures of Direct Tax Collections up to November, 2018, show that gross collections are at Rs 6.75 lakh crore, 15.7% higher than the gross collections for More »

India beat Australia by 31 runs in Adelaide test

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Speed Post News Network Patna : India beat Australia by 31 runs in a thriller in the first test at Adelaide Oval, Adelaide, Australia, on December 10, 2018, to go 1-0 up More »

 

Vision of USD 5 Trillion Indian Economy by 2025

Speed Post News Network

New Delhi : The Working Group tasked to develop a roadmap towards achieving a 5 trillion dollar economy by 2025 has prepared its report and it is being circulated to the stakeholders for further suggestions. The Working Group was constituted by the Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry with participation from government and industry. The Group held extensive and broad-based consultations with stakeholders to better understand the aspirations and the potential. The sectoral sub-groups were also formed to take the task forward.

India is one of the fastest growing major economies and is currently ranked as the world’s sixth largest economy. Projections of growth, over the medium term, remain encouraging and optimistic for India. The underlying strength are indicative of the potential of India to achieve a USD 5 trillion economy by 2025. The current structure of the economy and the emerging dynamics provide grounds to target achieving 1 trillion dollar from agriculture and allied activities, 1 trillion from manufacturing and 3 trillion from services.

The Government has several ongoing initiatives across sectors focused on growth. In agriculture, the Government is aiming to reorient policy focus from being production-centric to becoming income-centric. The emphasis on income provides a broader scope towards achieving the needed expansion of the sector. The proposed Industrial Policy 2018 provides an overarching, sector-agnostic agenda for the enterprises of the future and envisions creating a globally competitive Indian industry that is modern, sustainable and inclusive.

The Champion Services sector initiative is also underway to accelerate the expansion of select service sectors. The Working Group has accounted for these initiatives and encourages a fresh impetus to achieve the target of a five trillion economy, according to a PIB release.

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