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Detailed explanation-1: -The bank officials are learnt to have informed the panel that at the current GDP rate of around 6.4 per cent, it would not be possible to make India a $5 trillion economy by 2024-25 and at this rate, the target may only be achieved by 2030.

Detailed explanation-2: -India is the fastest growing major economy in the world and is all set to achieve USD 5 trillion GDP by 2024-25, Union Minister Nitin Gadkari said on Friday.

Detailed explanation-3: -An annual economic growth of 6.5% with inflation less than 5% for the next five years holds the key for the central government’s ambitious target of making India a $5 trillion economy, according to a background paper circulated among a select group of lawmakers.

Detailed explanation-4: -The Asian Development Bank (ADB) maintained its outlook for India’s economic growth for the current fiscal year at seven percent. GDP growth is expected to remain at 7.2 percent in 2023 and 24.

Detailed explanation-5: -India has the potential to grow at 6.5-7 per cent and will become a USD 5 trillion economy by 2025-26 and USD 7 trillion by 2030 depending on exchange rate fluctuation, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday.