US$ 5 Trillion Economy by the Year 2024: Is a Herculean Task; Requires 11% GDP Growth Rate to Achieve it

Abstract

To reach a US$5 trillion economy by the year 2024 from a current level of US$ 2.832 trillion at end of Q2 FY20, India need to grow GDP at a rate of 11% p.a. quarter on quarter basis in the balance period. This is definitely a herculean task. With avg. 4.78% growth rate so far in the current financial year, even achieving US$ 4 trillion economy is challenging, which requires 6.63% p.a. growth rate, quarter on quarter basis.