Arun Jaitley, Finance Minister said India is expected to surpass Britain next year to become world’s fifth largest economy. “Other economies in the world is growing at a much lesser rate and India has the potential to be among the top three economies of the world in the next 10-20 years.” Said Minister.
According to World Bank data, India had a GDP of $2.59 trillion in 2017, higher than France’s $2.58 trillion. Britain’s was just about $25 billion higher than India at $2.62 trillion.
“This year, in terms of size, we have overtaken France. Next year we are likely to overtake Britain. Therefore, we will be the fifth largest (economy),” he said here. Other economies in the world are growing at a much lesser rate, he said, adding that India has the potential to be among top three economies of the world in the next 10-20 years.
He said the Congress provided India’s poor with a slogan. Prime Minister Modi has given them the resources. This will ensure faster growth and lead to a faster depletion in the poverty.