'India becoming $5 tn economy by 2025 simply out of question'

Ahmedabad: Claiming that India will need another 22 years of sustained growth to become a "developed country," former Reserve

Bank of India (RBI) governor C Rangarajan said on Thursday that at the current growth rate, India becoming a

USD 5 trillion economy by 2025 is "simply out of question."

"People are talking about USD 5 trillion economy. Today India's economy is about USD 2.7 trillion and we are talking about doubling this.

The required rate of growth of the economy to achieve the level of USD 5 trillion by 2025 is in excess of 9 percent per annum.

Reaching USD 5 trillion by 2025 is simply out of question. You have lost two years. This year it is going to be six percent growth and next year also it will be probably about seven percent. Thereafter the economy may pick up," said

Rangarajan while delivering the 7th Yasaswy Memorial Lecture organised by IBS-ICFAI Business School on the topic, "The Current Economic Situation."