India at 8% growth can double economy in 7-8 years, says NITI VC

Niti Aayog Vice-Chairman Rajiv Kumar said the target of becoming a USD 5-trillion economy is not rhetoric.

New Delhi:  India can double its economy in about 7-8 years if it grows at 8 per cent, which is feasible as the country has sustained a growth rate of 8.5 per cent earlier for a long time, Niti Aayog Vice-Chairman Rajiv Kumar said on Saturday.

"If things remain normal, and we are not witnessing the fourth wave of the pandemic or any ghastly outcome in Ukraine then we can achieve 8 per cent growth because we have done that. If we can do it, we can achieve the doubling of the economy in about 7-8 years," Kumar said while speaking at the APB Network's 'Ideas of India' summit here.

He said that the target of becoming a USD 5-trillion economy is not rhetoric, adding that the country is already a USD 2.7 trillion economy and it just needs to double it. Also Read: Zomato 10-minute food delivery: MP Home Minister raises road safety concerns, asks firm to change plan

Noting that India has sustained an 8.5 per cent growth rate in 2003-2011, he said, "We must recognise the fact that India is the only country which will have to achieve this growth (8 per cent) while fully taking care of the environment. Also Read: Bring petrol, diesel under GST to ease inflationary burden: PHDCCI