India’s $5 trillion economy goal achievable by 2026; Chidambaram’s view very wrong: Rajeev Chandrasekhar

Mr. Chidambaram had said that the "goal of a $5 trillion GDP appears to be a case of 'shifting goalposts'"

June 13, 2022 02:40 am | Updated 04:36 am IST - Pune

Rajeev Chandrasekhar. File

Rajeev Chandrasekhar. File | Photo Credit: SANDEEP SAXENA

Union Minister Rajeev Chandrasekhar on Sunday termed "very wrong" senior Congress leader P. Chidambaram's statement that the goal of a $5 trillion GDP appears to be a case of "shifting goalposts" as the original target year was 2023-24.

Speaking to reporters in Pune, the MOS for Electronics and Information Technology and Skill Development and Entrepreneurship said India has become a $3 trillion economy and will become a $5 trillion economy by 2026.

Reacting to Chief Economic Advisor V. Anantha Nageswaran's remarks that IMF has forecast the Indian economy to cross $5 trillion by 2026-27, Mr. Chidambaram had said that the "goal of a USD 5 trillion GDP appears to be a case of 'shifting goalposts'".

"(Mr.) Chidambaram can suggest that we follow the U.S. economic model. He will say anything and what he has said is his personal view which is a very, very wrong view. He was wrong before and has been continuously wrong. There is a phrase for (such) people who were caught with their hand in the cookie jar," Mr. Chandrasekhar said.

He said the goal of becoming a $5 trillion economy by 2026 is achievable.

"We had set this goal before the coronavirus pandemic began. Now we have become a $3 trillion economy. By 2026, we will become a $5 trillion economy. The important component is India's post-COVID growth as an exporting nation and digital manufacturer. After post-COVID opportunities, a $5 to 10 trillion dollar dream can come true with the same pace of work," the Minister said.

When asked about Congress planning nationwide protests against summons issued by the ED to Congress president Sonia Gandhi and her MP son Rahul Gandhi, he questioned the need to bring in "mobs" when the law is taking its course.

"This is an intimidation tactic (adopted by Congress). If you are not afraid of the process of law then why this new politics? Do they want to pressure the law with intimidation? The most sensible thing to do is bring a good lawyer and sit with the ED. Law is the same for everyone," Mr. Chandrasekhar added.

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