This Article First Appeared In The Economic Times On May 18, 2023
How does this all fit into the long-term target of becoming a $5 trillion economy? A back-of-the-envelope calculation suggests India needs to grow, on average, at 7.4% in real terms over the next four years to reach this target. This is based on inflation averaging close to 4% and the rupee depreciating by 2% each year, in line with historical trends.