shifting gear of Indian economy

India’s objective is to become $ 5 trillion by 2024-25.To get this objective, there is need to sustain real gross domestic product (GDP) growth rate by 8%.This objective is based on platform developed till now.Present Growth rate of GDP in India and in the world.

  • World – 3.6%
  • Advanced economies – 2.1%
  • China – 6.9%
  • India – 7.5%

Gross fiscal deficit – decreased from 4.5%(2013-14) to 3.4% (2018-19) of GDP.India has become 6th largest economy in the world.Aadhar card contribute major role in bridging the Gap between government and last people of the country which save government’s finance which were leaked.Aadhar card coverage has been ~ 90% of the population.There is a PM Jan Dhan Yojna for opening bank account, now has been deposited by ~ 1 lakh crore by almost 35 crore people. Considered as a successful financial inclusion approach by the Government.Cashless transaction has reached to 7.3 lakh crores.Cashless transaction help in reducing corruption.There are many other steps have been taken by government which moving towards their objective.The objective is fueled through virtuous cycle. Consist of

  1. Saving
  2. Investment (major focus on private)
  3. Export.