India can achieve $5-tn economy but timeframe uncertain: SBI Chairman

Rajnish Kumar, chairman of State Bank of India, has recently said the country can become a USD 5-trillion economy. However he was skeptical as to whether the government can achieve it by 2014-2025. He further said that he said private investment was necessary for achieving the target.

“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 diicult question to answer. But USD 5trillion, we will achieve for sure and again I’m saying that it will come on the back of private sector investments revival,” Kumar said.

In accordance to him, the envisaged $5-tn trillion economy cannot be achievable through only the government investments. There is a need for huge investments in the infrastructure sector which would result in boosting the GDP.