<p>Chief Economic Adviser (CEA) V Anantha Nageswaran on Tuesday said India would become a $5 trillion economy by 2026-27 and $10 trillion by 2033-34.</p>.<p>Addressing an event organised by UNDP India, Nageswaran said India is relatively better placed than other emerging economies.</p>.<p>"On the face of it, looks optimistic, even ambitious, but if we get to $5 trillion by 2026-27.</p>.<p>"We are now $3.3 trillion, it is not such a difficult target to reach. Then if you simply assume 10 per cent nominal GDP growth in dollar terms, then you get to $10 trillion by 2033-34 and another doubling with the same rate," he said.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/national/goal-of-5-trillion-gdp-appears-to-be-case-of-shifting-goalposts-chidambaram-1117479.html" target="_blank">Goal of $5 trillion GDP appears to be case of 'shifting goalposts': Chidambaram</a></strong></p>.<p>In 2019, Prime Minister Narendra Modi envisioned to make India a $5 trillion economy and global powerhouse by 2024-25.</p>.<p>The CEA said there is a need for climate tagging of the budget.</p>.<p>"GDP is the worst measure of economic activities but for all others. Because everything else you take, comes with their own limitations and serious subjectivity," he noted.</p>.<p>The World Bank has cut India's economic growth forecast for the current fiscal to 7.5 per cent as rising inflation, supply chain disruptions, and geopolitical tensions taper recovery.</p>.<p>India's economy grew 8.7 per cent in the last fiscal (2021-22) against a 6.6 per cent contraction in the previous year.</p>.<p>In its third monetary policy of 2022-23, the Reserve Bank retained its GDP growth forecast at 7.2 per cent for the current fiscal, but cautioned against negative spillovers of geopolitical tensions and a slowdown in the global economy.</p>
<p>Chief Economic Adviser (CEA) V Anantha Nageswaran on Tuesday said India would become a $5 trillion economy by 2026-27 and $10 trillion by 2033-34.</p>.<p>Addressing an event organised by UNDP India, Nageswaran said India is relatively better placed than other emerging economies.</p>.<p>"On the face of it, looks optimistic, even ambitious, but if we get to $5 trillion by 2026-27.</p>.<p>"We are now $3.3 trillion, it is not such a difficult target to reach. Then if you simply assume 10 per cent nominal GDP growth in dollar terms, then you get to $10 trillion by 2033-34 and another doubling with the same rate," he said.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/national/goal-of-5-trillion-gdp-appears-to-be-case-of-shifting-goalposts-chidambaram-1117479.html" target="_blank">Goal of $5 trillion GDP appears to be case of 'shifting goalposts': Chidambaram</a></strong></p>.<p>In 2019, Prime Minister Narendra Modi envisioned to make India a $5 trillion economy and global powerhouse by 2024-25.</p>.<p>The CEA said there is a need for climate tagging of the budget.</p>.<p>"GDP is the worst measure of economic activities but for all others. Because everything else you take, comes with their own limitations and serious subjectivity," he noted.</p>.<p>The World Bank has cut India's economic growth forecast for the current fiscal to 7.5 per cent as rising inflation, supply chain disruptions, and geopolitical tensions taper recovery.</p>.<p>India's economy grew 8.7 per cent in the last fiscal (2021-22) against a 6.6 per cent contraction in the previous year.</p>.<p>In its third monetary policy of 2022-23, the Reserve Bank retained its GDP growth forecast at 7.2 per cent for the current fiscal, but cautioned against negative spillovers of geopolitical tensions and a slowdown in the global economy.</p>