In order to achieve India's target of becoming a $5 trillion economy, Niti Aayog Chief Executive Officer Amitabh Kant has said that states will have to become key agents of growth. He added that states have to work together and learn from each other to radically transform India.
He further said that the government is focusing on the target of becoming a $5 trillion economy by 2024 and subsequently a $10 trillion economy by 2030. Therefore, he said ‘our challenge really is that it will not be possible for India to achieve this until states do not aim to double and triple their GDPs. And this would require major structural reforms and structural reforms over a vast range of sectors.’
He pointed out sectors like agriculture and labour where structural reforms are required. The current size of the Indian economy is estimated at $2.7 trillion. Besides, the central government has announced and initiated several steps to make India a $5 trillion economy over the next few years.
