Union Home Minister Amit Shah has said that India will become a 5 trillion-dollar economy by 2025. He said that in the last eight years, India has achieved the feat of becoming the 5th largest economy from the 11th rank it held earlier, leaving Britain behind. Even a recent study conducted by Morgan Stanley predicts that no one can stop the Indian economy from holding the 3rd rank in the world by 2027,” the home minister said at the august gathering.
Attending the platinum jubilee celebration of India Cements in Tamil Nadu he said that due to political stability and transparent governance, India has become a fast-paced economy today. " The achievements of India are today acknowledged by the entire world. The IMF has labeled India as a bright spot in a dark zone," he said.
He further added that according to IMF estimation India would rank 2nd in the G20 with a 6.8% growth in GDP in the year 2022-23
"It also estimates that in the year 2023-24 India would rank first in the G20 with 6.1% growth in GDP," he said
Stating the achievements of India he said that the Government of India has focused on expenditure and in the year 2022-23 it increased capital expenditure by 46.8% than the last year and the GST collection in October 2022 was 1,51,718 crores which is the second biggest collection till now.
He stated that in the same month the number of UPI transactions in India stood at 12.11 lakh crore and 21 lakh vehicles have been sold which is 7 lakh vehicles more than the last year.
Explaining the government's special focus on Tamil Nadu he said," Narendra Modi government has focused with immense attention for the development of Tamil nadu priority sector. When there was a UPA government in the nation from 2009 to 2014, Tamil Nadu got Rs. 62,000 crores as tax devolution. But now it is 1,19,455 crores, which is a 91% increase .Grant in aid to the southern state during UPA period was 35000 crores which increased to Rs. 95734 crores during Narendra Modi regime, which is a clean 171% growth.
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