India expected to be $10 trillion economy by 2030: Garg

Agencies
July 14, 2018

New Delhi, Jul 14: Indian economy is on a stage of "take off" and is expected to be the world's third largest by 2030 with GDP worth USD 10 trillion, Economic Affairs Secretary Subhash Chandra Garg said.

"Good days are ahead and a lot of good work is happening in the economy. The economy is on a stage of takeoff where Indians can legitimately hold their heads high," he said in New Delhi.

In the first 40 years of independence, the country hardly grew at 3.5 per cent and today, 7-8 per cent is the norm, Garg said at a function to mark the platinum jubilee celebrations of the Institute of Cost Accountants of India.

"By 2030, we can legitimately expect to be a USD 10 trillion economy. That is the challenge. That is also the opportunity," he said.

"Eight per cent growth is very much achievable... If we keep that... we can look forward to becoming an economy of USD 10 trillion which would be the third largest economy in the world," Garg said.

His comments also come close on the heels of latest World Bank data showing that the country emerged as the sixth largest economy in the world, surpassing France, in 2017.

In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of USD 2.59 trillion, relegating France to the seventh position, according to the data.

"We expect the Indian economy to be a USD 1 trillion digital economy by 2022 and going forward... possibly by 2030, the digital economy would be half of the total economy," the Economic Affairs Secretary said. The country's economy grew at a seven-quarter high of 7.7 per cent in the three months ended March 2018, helped by higher government spending and investments.

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News Network
March 25,2024

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Congress leader Rahul Gandhi will face Kerala BJP chief K Surendran in the high-profile Wayanand constituency this Lok Sabha election.

Wayanad, a Congress stronghold, has been with the party since 2009. Mr Gandhi won it in 2019 and retained his Lok Sabha membership, having lost his Amethi seat to Union Minister Smriti Irani.

His rival this time, Mr Surendran, has the significant task of challenging the Congress-Left binary in Kerala's political landscape. Both the Congress and the Left are in a national alliance though they remain rivals in this southern state.

Surendran has contested all three Lok Sabha elections since 2009 and also four Assembly elections. In 2021, he contested from Konni and Manjeshwar seats simultaneously. 

In 2019 general elections, Mr Surendran finished third in Pathanamthitta constituency behind the Congress and the Left. He had lost the 2016 assembly polls from Manjeswaram by merely 89 votes. He also contested a bypoll in 2019, but lost it as well.

He was appointed to head the BJP Kerala unit in 2020 and became the face of the protests against the entry of young women into Sabarimala years ago.

Mr Surendran, who is from Kozhikode, figured in the BJP's fifth candidates' list, which also named actor Kangana Ranaut and former Calcutta High Court judge Abhijit Gangopadhyay.

Wayanad is the second Kerala seat to see a battle of titans after Thiruvananthapuram, where Union Minister Rajeev Chandrasekhar will face the three-time Congress MP Shashi Tharoor.

The BJP has also fielded former vice-chancellor of Sree Sankara Sanskrit University K S Radhakrishnan from Ernakulam and actor-turned-politician G Krishnakumar from Kollam. T N Sarasu, a former educator, will contest from Alathur in Palakkad.

The highlight of the BJP's fifth list was the electoral debut of actor Kangana Ranaut from Mandi in her homestate Himachal Pradesh. The list, which named 111 candidates in 17 states, also featured new joinees like industrialist Naveen Jindal and Mr Gangopadhyay.

Mr Gangopadhyay, who joined the BJP recently after taking voluntary retirement, is the first former judge to join electoral politics. He has been fielded from Tamluk in Bengal and will face Trinamool's Debangshu Bhattacharya, a youth leader who had penned the party's "Khela Hobe" song.

Varun Gandhi, a sitting MP from Pilibhit, has been dropped and his seat has gone to Jitin Prasada, who switched to the BJP from the Congress in run-up to the election. His mother Maneka Gandhi has been fielded from her current seat, Sultanpur.

Actor Arun Govil, who played Ram in popular TV series Ramayan, will contest from Meerut. Union ministers Ashwini Kumar Choubey and General VK Singh too were part of the list.

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News Network
March 16,2024

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New Delhi: The 2024 general election for 543 Lok Sabha seats will be held in seven phases from April 19, Chief Election Commissioner Rajeev Kumar said today, announcing the largest democratic exercise in the world. Results will be announced on June 4.

The seven phases: 
April 19
April 26
May 7
May 13
May 20
May 25
June 1

Simultaneous election for Lok Sabha and assembly will be held in four states -- Sikkim, Odisha, Arunachal Pradesh and Andhra.  

By-elections will also be held for 26 assembly seats across multiple states, including Bihar, Gujarat, Haryana, Jharkhand, Maharashtra, Rajasthan and Tamil Nadu.

Mr Kumar, announcing the dates, sent out a strong message on fake news on social media, saying political parties should ensure responsible social media behaviour -- "verify before you amplify".

"Fake news will be dealt with severely as per existent laws.. Section 79 (3)(B) of the IT Act empowers nodal officers in each state to remove unlawful content," he said.

The other strong message was on violation of model code in terms of hate speeches. "There should be issue-based campaign, no hate speeches, no speeches along caste or religious lines, no criticism of anyone's personal lives," he said.

The media must clarify when they carry political adverts, those cannot masquerade as news, he said. Individual messages regarding this would be sent to the candidates, he added.

The commission has employed 2,100 advisors to keep an eye on these issues and strong action will be taken regarding this, he said.

Voters above the age of 85 years and persons with disabilities, with 40 per cent disability can vote from home, Mr Kumar said. Around 82 lakh voter are above the age of 85, he said.

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News Network
March 29,2024

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New Delhi: The Congress on Friday said it has received fresh notices from the income-tax department, asking it to pay Rs 1,823.08 crore, and accused the ruling BJP of indulging in 'tax terrorism' to financially cripple the opposition party ahead of the Lok Sabha polls.

Adressing a press conference at the AICC headquarters here along with Congress general secretary Jairam Ramesh, party treasurer Ajay Maken alleged that the BJP is in serious violation of income-tax laws and said the I-T department should raise a demand of more than Rs 4,600 crore from the saffron party for such violations.

Ramesh alleged that through the 'electoral bonds scam', the BJP has collected Rs 8,200 crore and used the route of 'pre-paid, post-paid, post-raid bribes and shell companies'.

On the other hand, the BJP is engaged in 'tax terrorism', he alleged.

"Efforts are being made to financially cripple the Congress, but we are not going to be cowed down," Ramesh said.

He asserted that the Congress's campaign for the upcoming parliamentary polls will continue and the party will take its guarantees to the people of the country.

"We will not be scared of these notices. We will be more aggressive and fight these polls," the former Union minister said.

Maken alleged that the Congress and other like-minded opposition parties are being selectively targeted by the I-T department, which he described as the BJP's 'frontal organisation'.

The I-T department has launched a premeditated, diabolical campaign against the Congress by reopening matters of old returns on baseless grounds, he said.

Maken said the Congress will approach the Supreme Court soon over the I-T department's demands from it.

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