CPI(M) general secretary Sitaram Yechury has said that India does not require Narendra Modi or the BJP to become the third largest economy in the world.
He told the media here on Thursday that India would get that status irrespective of who was in power. “You can be the Prime Minister of India and even then by 2027, India will be the third largest economy. Why? Due to the rate at which our economy is growing because of our numbers. Of the 140 crore people, everybody contributes something or the other to the Gross Domestic Product (GDP). The rate at which our GDP is growing is faster than the rate at which Japan and France are growing. So, by 2027, we will overtake them,” Mr. Yechury said. Thus, he said, the “Modi guarantee” to take the economy to further heights was devoid of facts.
However, Mr. Yechury said the government was not talking about how India had one of the lowest per capita GDP in the world. “In terms of per capita GDP, you are at 142 out of the 180 countries. The lowest per capita GDP among all the G-20 countries, among all BRICS countries. Even if you become the third largest economy, the U.S. economy will be six times larger, and China, which is the number two economy, will be five times larger than us,” he added.
