Modi govt 2.0 sets sights on making India USD 5 trillion economy

The Modi government has underlined its priorities in the first 50 days of its second term, setting sights on making India a USD 5 trillion economy and hitting the ground running on spurring growth. 

 

Two persons in the know of the government policy making said the dispensation truly feels that transformative changes can be brought about only through economic growth and inclusive development. 

 

Prime Minister Narendra Modi was sworn-in on May 30 after the BJP won 303 seats -- the first time since 1971 that an incumbent government returned to power with such a thumping mandate. 

The government was off the blocks on day one and set the ball rolling on manifesto promises such as pension schemes for farmers, small traders and unorganised workers, extension of PM-KISAN to all farmers, and setting up of a Jal Shakti Ministry, say political observers. 

 

Just days after coming to power, the government spelt out its key priorities in the budget which was focused on laying the foundation for making India a USD 5 trillion economy and doubling farmers' income, the two persons in the know of the government's policy making said. 

 

Finance Minister Nirmala Sitharaman, in her budget speech, said in the current fiscal, India's economy will grow to become USD 3 trillion economy, sixth largest in world.