India becoming world’s 5th largest economy not an ordinary feat, Prime Minister Narendra Modi says
“This achievement gave us confidence to work even harder and achieve bigger goals in this Amrit Kaal. This progress is not ordinary. Every Indian is feeling proud of it. We need to maintain this enthusiasm,” the Prime Minister said in a virtual address with beneficiaries of various government schemes.
India, a former British colony, leapt past the UK in the final three months of 2021 to become the fifth-biggest economy. The calculation is based in US dollars, and India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund.
Going ahead, India is expected to pip Germany in 2027 and Japan by 2029 at the current rate of growth, as per a State Bank of India (SBI) research report.
Modi also said as many as three crore houses were built by the government across the country for the poor during the last eight years under the government’s Pradhan Mantri Watch out Yojana.
“Of these, nearly 10 lakh houses were constructed in Gujarat alone,” he said.