India will become fifth largest economy next year: Arun Jaitley
Jaitley said that India's rankings have improved considerably as the "Is of Doing Business and Favorite Investment Destination
[New Delhi]: Union Finance Minister Arun Jaitley has expressed confidence that if the economy's growth rate is in line with the estimates, India will become the fifth largest economy of the world by defeating Britain next year. However, he said that the rising global crude prices and global trade-war can create challenges in the international market.
In his Facebook post titled 'The slogan given by the Congress to the rural India, Prime Minister Modi gave the resource', Jaitley said that if the country's growth rate is estimated, then next year we will become the fifth largest economy in the world. Britain is the fifth largest economy right now. He said that for the last four years India has become the world's fastest economy. There is a possibility of continued growth of the country for the next decade.
In its latest report in the global market, it has said that India has become the sixth largest economy in the world. He has achieved this position by overtaking France. Now France is the seventh largest economy. America is on top in this list. This is followed by China, Japan, Germany and Britain. On the basis of performance of Indian economy in 2017, it got sixth place. India's gross domestic product (GDP) was $ 2.59 trillion at the end of 2017, while France's GDP was 2.58 trillion dollars.
Jaitley said that India's rankings have improved considerably as the Isle of Doing Business and preferred investment destination. India has emerged as a suitable country for business between the rising crude oil prices and the challenges of trade war in the international market. India's growth rate is estimated to be in the current fiscal year. While the growth rate was 6.7% in the last financial year 2017-18.
Jaitley said that according to the World Bank's latest figures, India has become the sixth largest economy after leaving France. But there is a great difference between the two countries in per capita income due to the huge difference in the population. Under the leadership of Prime Minister Narendra Modi, the NDA government has ensured that rural India and the disadvantaged sections get the first right on resources. Growth in the development of these classes and the increase in government expenditure will provide the most benefit to the rural poor in the next decade.
# Arun jaitley
# Global market
# Global trade
# Trade war
# PM narendra modi
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