Piyush Goyal on $5 trillion economy goal: 'An achievable goal in the coming 5 years'

Addressing the 64th Foundation Day of the All India Management Association, Commerce and Industry Minister Piyush Goyal asserted that the goal of $5 trillion economy was 'an achievable one'. Highlighting the country’s rich pool of management talent, he mentioned that millions of Indians had dedicated their life serving businesses and government. Thereafter, Goyal stressed that 1.3 billion people were engaged in the creation of a $5 trillion economy.

Piyush Goyal remarked, "India has a rich pool of management talent. Millions of people have devoted their life serving the nation, serving corporations, serving businesses and serving the government. USD 5 trillion economy is something that 1.3 billion people will be engaged in creating. It is an achievable goal in the coming five years.”  

Read: Manmohan Singh Attacks Centre On Economic Slowdown, Foresees No Course Correction

'The motto of Nation First will get the desired result' 

Prime Minister Narendra Modi has often expressed confidence in the country achieving the target of $5 trillion economy. Addressing the 2019 Republic Summit, he remarked, "Friends, along with constant efforts to improve the standard of living in India, the country has also set an aim of $5 trillion economy and I am confident that with the motto of 'Nation First' will get the desired result of all our efforts and the country will also achieve all its goals." Earlier in the day, MoS Home Affairs G Kishan Reddy stated that the government had achieved its first milestone by ensuring that India ranks among the world’s 5 largest economies.

Read: MoS Kishan Reddy Shares IMF's Oct 2019 Data, Says 'India Amongst Top 5 Largest Economies'

Congress hits back at government claim

Taking an indirect dig at the remarks of Goyal and Reddy, Congress ridiculed the idea of a $5 trillion economy. It alleged that the country's saving rate had hit a 15-year low. Moreover, the Congress party claimed that this would lead to an increase in India's external debt. 

Read: Govt Trying To Hide Poverty Behind Wall After Concealing Data On Economy, Alleges Cong

Read: 'Traditional Entrepreneurs Working Make U.P $1 Trillion Economy': CM Yogi Hails ODOP

(With ANI inputs)