Successful policy implementation to make India $4.5trillion economy

Tags: News
The present government's effort to expedite major reforms and their successful implementation could push India's gross domestic product (GDP) to over $ 4.5 trillion by FY20, a Dun & Bradstreet report said today.

According to the global business information, knowledge and insight provider, India is likely to achieve an average growth rate of around 7.5 per cent during FY15-FY20.

"These are exciting times for India with the ushering in of a new majority government at the Centre after three decades," Dun & Bradstreet India Senior Economist Arun Singh said adding that the government has hitherto relayed the right signals, which has only heightened the sense of exuberance amongst India Inc.

According to D&B, the Indian economy is expected to recover from the current phase of slowdown towards the second half of FY15 and gather pace by FY16.

For the first quarter of this fiscal year the country is expected to clock a GDP growth rate of around 5.2 per cent and the FY15 GDP is likely to be 5.5 per cent.

"India is likely to achieve a higher average growth rate of around 7.5 per cent during FY15-FY20, spurred by large infrastructure investment by the Government along with increased investment activity by the private sector," Singh said.

Some of the risk factors for the said outlook are poor monsoon, structural bottlenecks and geo-politoical situation, Singh said.

"The present government's incremental effort to expedite major reforms and its successful implementation should push India's GDP (at market prices) to more than $ 4.5 trillion by FY20," he added.

The 'India 2020: Economy Outlook' report evaluates the growth of the Indian economy in the next six years (leading to 2020) based on its strengths and weaknesses.

The report contains five sections - forecasts for key macroeconomic variables, growth prospects for some of the Indian states, potential growth drivers of the economy, major policy initiatives that would facilitate India's economic journey and challenges to growth during the next six years.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India needs to think quick and act fast to crank up its crude reserves

    With China overtaking the US in crude oil imports in April with imports at 7.4 million barrels per day, its thirst for building reserves and proving i

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Politics has to be about problem solving

One of the most common sights every morning at major ...

Kuruvilla Pandikattu SJ

Start meditating to preserve grey matter

Since 1970, life expectancy around the world has risen dramatically, ...

Gautam Gupta

It’s ethnic wear all the way in Indian fashion

India is one of the most diverse countries in the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture