Pvt investment must for $5-tn goal: SBI chief
Hyderabad, January 4
State Bank of India Chairman Rajnish Kumar on Saturday said the country could become a USD 5-trillion economy but was skeptical whether it was achievable by 2024-25, as envisaged by the government. Speaking at an interactive session organsied by FICCI, he said private investment was necessary for achieving the target.
‘Work out ways to induce money into economy’
The government must find ways to induce at least Rs1 lakh-2 lakh crore into the economy to boost construction and infrastructure once again — Sangitha Reddy, FICCI Chief
“USD 5 trillion. We will definitely achieve, there is no doubt. Timeframe, I am not certain. Whether we’ll achieve in five years, it is like, a very difficult question to answer. But USD 5 trillion, we will achieve for sure and again I’m saying that it will come on the back of private sector investment revival,” he said replying to a query.
He said government investment alone could not achieve the target and there was a need for huge investments in the infrastructure sector which would boost the GDP. FICCI president Sangitha Reddy said there was a slow down and the government needed to infuse Rs 1 lakh-2 lakh crore to revive the sentiment. — PTI
