Indian economy to hit $5-trillion mark in FY29 as per IMF: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced that India is projected to reach a $5-trillion economy by the 2028-29 fiscal year, according to IMF data. The government plans to achieve this through a broad-based growth strategy focusing on manufacturing, infrastructure, and digital reforms.
Why it matters
This projection serves as a key economic benchmark for India's development trajectory and government policy planning.
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 (August 4, 2026).
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.
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"The government has adopted a broad-based growth strategy focusing on enhancing agricultural productivity, promoting manufacturing, supporting MSMEs, expanding infrastructure, improving logistics and ease of doing business, creating an efficient and streamlined tax system through income tax and GST reforms, fostering innovation and digitalisation, strengthening human capital, and ensuring energy security," she said.
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