Economic growth accelerating: Hardeep Singh Puri

Petroleum and Natural Gas Minister Hardeep Singh Puri exuded confidence that the nation will become a $5-trillion economy by FY25 and reach the $10-trillion mark by 2030.

Addressing a virtual conference of PAFI India on Thursday, Puri said, “Economic growth is accelerating. India is poised for growth to become a $5 trillion economy by 2024-25 and $10-trillion economy by 2030”.

The Minister also hailed the recent Air India disinvestment.

There are reports that after the Air India deal, the government intends to close the disinvestment of Bharat Petroleum Corporation (BPCL) this fiscal only.

On the BPCL divestment, Puri said, “All feedback is proceeding well…”

Meanwhile, Commerce Minister Piyush Goyal said on Thursday all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery.

“We are encouraged by all the economic indicators as they come out, which point to a very clear and sharp economic recovery. The GDP has grown by a record 20.1 per cent in the first quarter,” he said at the India Energy Forum by CERAWeek.