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FM Nirmala Sitharaman: India Set to Become $3 Trillion Economy this Year

Union Finance Minister Nirmala Sitharaman, presenting the first Budget of Modi 2.0, believes "reform, perform and transform" will succeed in making India a $3 trillion economy this year, unleashing "our capacity to reach $5 trillion in the next few years".


Sitharaman spoke about the need to take several structural reforms to achieve this target, including the need to simplify processes to reduce red-tapism. She said the Indian economy, which stood at $1.85 trillion five years ago, has reached $2.7 trillion, and thus, "$5 trillion is within our limits".

Investment in infrastructure also remains an important objective with both domestic and foreign players, the minister added.

It was stated that India is the sixth-largest economy and third in terms of purchasing power parity (PPP) behind United States and China
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