India’s economy to attain size of USD 34.7 trillion by 2047: PHDCCI
The Indian economy is displaying robust growth post Covid pandemic despite continued global headwinds, the industry body said.
President Pranab Mukherjee on Thursday said Indian economy was projected to grow by more than 7.5 per cent in the current financial year.
The President noted that for 50 years before independence, the economic growth rate of India was 0 to 1 per cent.
In the 1950s, the growth rate rose to 1-2 per cent, while in the sixties 3-4 per cent and in the 90s, with economic reforms it increased by 6 to 7 per cent, Mukherjee said, while delivering the sixth K S Rajamony Memorial Lecture here.
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Speaking on the topic of India@70, he said in 15 years, Indian economy grew more than 7 per cent, making us the fastest growing large economy of the world.
"And as per the indication of the third part of the current year, it is sure to grow more than 7 and a half per cent," he added.
Mukherjee said such a performance could be achieved only because of the hardwork of farmers and workers.
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