NITI Aayog says Nominal Growth of 12.4% Annually for $5-Trillion GDP

NITI Aayog CEO Amitabh Kant informed the Standing Committee on Finance that Gross domestic product (GDP) as per current prices without accounting for inflation the growth measure has to be at least average 12.4% annually for the next five years to achieve the target of $5-Trillion economy by 2024-25.

The current rate in the first quarter of the financial year was around 8%.

The National Institution for Transforming India, NITI Aayog is a policy think tank of the Government of India formed on 1st January 2015.

The Prime Minister of India will be by default the Chairperson of the Niti Aayog.