USD 5 trillion GDP economy? It's a case of 'shifting goalposts': Chidambaram

Speaking at the finance ministry's iconic week celebrations of 'Azadi ka Amrit Mahotsav', Nageswaran had said last week that IMF has forecast the Indian economy to cross USD 5 trillion by 2026-27.

New Delhi: Senior Congress leader P Chidambaram on Sunday said that the goal of a USD 5 trillion GDP appears to be a case of "shifting goalposts" as the original target year was 2023-24. This came after the Chief Economic Advisor V Anantha Nageswaran cited the IMF forecast that the Indian economy would cross USD 5 trillion by 2026-27.

Speaking at the finance ministry's iconic week celebrations of 'Azadi ka Amrit Mahotsav', Nageswaran had said last week that IMF has forecast the Indian economy to cross USD 5 trillion by 2026-27. India's Gross domestic product (GDP) in dollar terms has already crossed USD 3 trillion.

Reacting to the remarks, Chidambaram said the "goal of a USD 5 trillion GDP appears to be a case of 'shifting goalposts'". The original target year was 2023-24, the former finance minister said, adding that, "We are nowhere near that goalpost."

"Now, the Chief Economic Adviser has said we will achieve the goal 'by 2027'," he said. "I think each one of the key players has a different goalpost: PM, FM, FS and CEA. Whenever the Economy reaches the milestone, one can say 'We told you so'!" Chidambaram said.