Chief Economic Advisor Krishnamurthy Subramanian has said, Economic Survey suggests that India’s aspiration of becoming a five trillion dollar economy depends on strengthening the invisible hand of the market.
Briefing reporters on Economic Survey in New Delhi today, Mr Subramanian said, the survey has given the emphasis on wealth creation. He said, all groups of countries have slowed down in a globalized economy and India has also felt the effect. Mr Subramanian said, India has been a dominant economy for three-quarters of recorded economic history and such dominance happens by giving emphasis on wealth creation.
He said, India’s banking sector need to scale up and become proportional to the size of the Indian economy. The Economic survey is a flagship annual document of the finance ministry which reviews developments in the Indian economy.