Can India be a $5 Trillion economy by 2026-27: A perspective.

In the year 2019, Government of India proposed to bring India to a $5 trillion economy by the year 2024-2025, following its growth trajectory in the past 20 years. Then it was followed by the global pandemic which slowed down all economic activities and the GDP growth suffered a hard blown setback. Many people had lost jobs as factories got closed, specially the MSMEs. On the one hand there were challenges of providing health facilities to the 1.25 billion population and at the same time to feed those laborers who lost jobs and moved back to their villages. 2020 and 2021 saw three waves of corona out of which the second was very severe. Then government arranged the largest vaccination program for the people which ran very successfully. In February 2022, the Russia-Ukraine war caused the inflation to sour in most of the countries including India, value of rupee fell, prices of crude oil in international market soured and therefore, the question became more relevant whether India will breach the mark of $5 Trillion of GDP by 2024-25, initially planned. This paper concludes that if the inflation which has been majorly reined in, and if rupee is stable and the world economies recover, India may achieve the target by 2026-2027. [ABSTRACT FROM AUTHOR]