New Delhi, Nov 28 (IANS) Union Home Minister Rajnath Singh on Saturday said the country would inch towards double-digit growth rate in the next few years.
Speaking during the 110th Annual Session of the PHD Chamber of Commerce and Industry here, the union minister also said that India will evolve into one of the five largest economies between 2020 to 2025 before it emerges into top economy in the world by 2030.
“The GDP (gross domestic product) growth rate of India as of now has reached over 7.5 percent and with government putting in favourable economic policies in place, which would be not only industry and business friendly but also industry friendly, in next few years the GDP growth rate would be double digit,” Singh said.
He claimed the economic growth momentum lost its direction after 2004 until the current BJP-led National Democratic Alliance (NDA) government took office.
The senior BJP leader also said that the NDA government has succeeded in striking a balance between growth and inflation.
Rajnath Singh, however, admitted the prices of essential commodities have risen for a while. Nevertheless, the government has succeeded in containing the inflation.