Previous Year Question

The Government of India established a target of expanding the Indian economy to US$ 5 Trillion by 2024–25. This target was presented as a major economic objective in the Economic Survey 2018–19 and Union Budget 2019–20. The then Finance Minister, Nirmala Sitharaman, referred to this objective while presenting the Union Budget on 5 July 2019.

A US$ 5 Trillion Economy means that the country's annual Gross Domestic Product (GDP), measured in current US dollars, reaches approximately US$ 5 Trillion. This target was associated with Nominal GDP, which measures the value of goods and services at current market prices, rather than on the basis of Purchasing Power Parity (PPP).

According to the Economic Survey 2018–19, achieving this target required India to sustain an annual Real GDP Growth Rate of approximately 8%. The Economic Survey identified Private Investment, Employment Generation, Exports, Productivity, and Infrastructure Development as major drivers of economic growth.

To support this objective, the government introduced the National Infrastructure Pipeline (NIP) initiative, which envisaged Infrastructure Investment of approximately ₹111 lakh crore during FY 2020–2025. The option 2024 in the question represents the originally announced target period of 2024–25. It was an economic objective established at that time, not evidence that the target had been achieved.