Budget 2019: Aspire to become $10 trillion economy in next 8 years, says Piyush Goyal

The government has set a target to become a $10 trillion economy in the next years, said Union Finance Minister Piyush Goyal while presenting interim Budget at the Lok Sabha today.

The government is laying out the vision for the most important dimensions for the next 10 years to make India a Rs 10 lakh crore economy and enhance ease of living including development of roads, railways, seaports, health, among other things.

Representational image. AFP

Representational image. AFP

Goyal said there has been an 18 percent increase in direct tax collections in 2017-18. Around 1.06 crore people included in tax base and more than one crore citizens filed IT returns for the first time, after demonetisation, he said.

The government is committed to eliminating the ills of black money; anti-black money measures have been taken to bring undisclosed income of about Rs 1.30 lakh crore to the surface; 3.38 lakh shell companies deregistered, he said.

Earlier, Union Commerce and Civil Aviation Minister Suresh Prabhu had said the same while addressing a seminar on exports at Vibrant Gujarat Global Summit in Gandhinagar. India has the potential to be a 5 trillion US Dollar economy in the next 7-8 years. Prabhu said that his department had prepared a road map to make this possible by focusing on manufacturing, service sector and agriculture.

 

 

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Updated Date: Feb 01, 2019 12:32:25 IST

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