‘Indian economy to hit $5t mark in FY29 as per IMF’

‘Indian economy to hit $5t mark in FY29 as per IMF’Indian economy is set to cross $5-trillion mark in FY29 as per the International Monetary Fund (IMF) and the government has adopted a broad-based growth strategy to achieve the milestone, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday. As per the World Economic Outlook database (April 2026) published by the IMF, India’s GDP at current prices is projected to be around $5.1 trillion by 2028-29, she said in a written reply. The strategy is complemented by sustained emphasis on public capital expenditure, liberalising the FDI regime, boosting exports, and strengthening macroeconomic fundamentals through prudent fiscal management and price stability. In addition, she said, the government is strengthening trade resilience by expanding its network of Free Trade Agreements and Comprehensive Economic Partnership/Cooperation Agreements. Collectively, she said, these measures are expected to strengthen India’s medium-term growth prospects and support its long-term vision of Viksit Bharat by 2047.