AHMEDABAD: Stating that the economy is in a bad shape, former Reserve Bank of India governor C Rangarajan on Thursday said reaching the $5-trillion Gross Domestic Product target by 2025 is "simply out of question" at the current growth rate.
Soon after assuming office for the second term in May, the Narendra Modi-led government set a target of taking the economy to $5 trillion over the next five years. But there have been several clouds over the economy since.
"Today our economy is about $2.7 trillion and we are talking about doubling this over the next five years at $5 trillion. The required rate of growth to achieve that level is in excess of 9% per annum. Reaching $5 trillion by 2025 is simply out," he said.
