Budget outlines vision for confident India, economy will grow to USD 5 trillion by 2027: Rajnath

'I am assured that whatever indications we have received from this Budget, the size of our economy, which is in top five counties right now, will grow to more than USD 5 trillion by 2027,' the minister said.

New Delhi: Union minister Rajnath Singh on Thursday said the interim Union Budget outlines the vision for a 'confident, strong and self-reliant Viksit Bharat', and asserted that he was assured that the size of the Indian economy will grow to more than 5 trillion US dollar by 2027.

In a post on X, he also said there is something in this Budget for 'every section of the society'.

The government is working to make India a developed country by 2047, Finance Minister Nirmala Sitharaman said on Thursday while presenting the interim Budget 2024-25.

"This is an interim Budget. But this interim Budget that she has presented is very encouraging and raises hope for the way ahead also. And the size of India's economy at this time... I am assured that whatever indications we have received from this Budget, the size of our economy, which is in top five counties right now, will grow to more than USD 5 trillion by 2027. By 2030, it will grow to more than USD 7 trillion," Singh told reporters outside Parliament.

Asked about the roadmap laid down by the government for 2047, he said, "We will reach that target. We are fully confident."

Singh later also posted on X to congratulate Sitharaman for "presenting a positive and encouraging ‘interim Budget’ which outlines the vision for a confident, strong and self-reliant #ViksitBharat".

"Inspired by PM Shri @narendramodi''s vision of making India a developed nation by 2047, this Budget gives the glimpse of India’s rapid economic transformation. There is something in this Budget for every section of the society. There is big push for infrastructure, construction, manufacturing, and housing and technology development in this Budget. During the Covid pandemic, when the world was faltering, India emerged as the beacon of hope. This Budget is perfectly aligned with PM’s ‘Panchamrit Goals’ and it also paves the way for the next five years of unprecedented growth," he posted.

"This Budget has increased the capital expenditure outlay to 11.1 per cent from FY (financial year) 24 to Rs 11.11 lakh crore for FY 25. This massive capex push will provide a big boost to making India a five trillion dollar economy by 2027,"Singh added in his post.