期刊名称：International Journal of Advances in Engineering and Management
电子版ISSN：2395-5252
出版年度：2021
卷号：3
期号：1
页码：630-635
DOI：10.35629/5252-0301461464
语种：English
出版社：IJAEM JOURNAL
摘要：India witnesses 111 deaths per million population due to Covid-19, much larger than just 3 deaths per million population in China, thus the health crisis being posted to have a longterm impact on the Indian economy. Indian economy has already been weakened due to this novel virus having stopped the positive growth rate and poising roadblock to the 5 trillion economic plan of India. The results of the second quarter of AY 2020 showed GDP contraction of 23.9%, affecting almost all the sectors of Indian economy. Although, the annual GDP growth is projected to contract by 7.7% on a Y-o-Y basis (according to NSO estimates), the first half of FY 2020-21 has seen promising positive growth with the right measures being taken with evolving new revenue streams.Indian economy aims to grow to USD 5 trillion, with a consistent double-digit growth rate in the coming years when coupled with inflation. A deeper look into the calculations behind the target economic growth puts the GDP growth rate to be at 11.5% for the next five years. India has seen the highest GDP (nominal) growth of 11.4% (in 2007- 08) since Independence with only two incidences when GDP was recorded to be in double digits (other in 1988-89). The only possible way India achieves this target is when inflation of 4% couples with 7.5% growth rate annually. Putting the pressure on inflation, there will be consequent depreciation in the rupee as compared to the US dollar, resulting in weakening local market demand. This paper aims to bring out the thought process as to how we could re-envisage 5 Trillion Indian Economy in the light of the aftermath of COVID-19 pandemic.
