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  Business   Economy  01 Feb 2018  India USD 2.5 trillion economy, set to be 5th largest in world: Jaitley

India USD 2.5 trillion economy, set to be 5th largest in world: Jaitley

THE ASIAN AGE.
Published : Feb 1, 2018, 11:53 am IST
Updated : Feb 1, 2018, 5:31 pm IST

Finance Minister said in Budget speech that India will grow 7.2-7.5 per cent in second half of current fiscal.

Finance Minister Arun Jaitley. (Photo: AP)
 Finance Minister Arun Jaitley. (Photo: AP)

New DelhiFinance Minister Arun Jaitley said on Thursday that India is expected to register a growth rate of 7.2-7.5 per cent in the second half of the current fiscal and is on way to becoming the 5th largest economy of the world.

While unveiling the Budget 2018-19, he said, India has grown on an average of 7.5 per cent in the first three years of the current government and has become a USD 2.5 trillion economy.

"We hope to grow at 7.2 to 7.5 per cent in the second half of the current fiscal," Jaitley said in the Lok Sabha.

India has already become 7th largest economy of the world, he said, adding that it is expected to become 5th largest economy soon.

Read: Union Budget 2018 LIVE: Govt allocates Rs 95,754 cr for SC, ST welfare

As per the CSO estimate Indian economy is expected to grow at 6.5 per cent in the current fiscal, ending March 31.

For 2018-19, the economy is likely to grow at 7-7.5 per cent as per the Economic Survey tabled in Parliament earlier this week.

GDP growth in first quarter of 2017-18 had moderated to 5.7 per cent, the lowest in the three years. In the second quarter, it recovered to 6.3 per cent.

Tags: union budget 2018, arun jaitley, indian economy, narendra modi
Location: India, Delhi, New Delhi