$5 trillion economy possible because of strong foundation laid by previous govts: Pranab Mukherjee

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Former president Pranab Mukherjee on Thursday said that foundations for India to become a $5 trillion-dollar economy in future are laid by previous governments including that of Jawaharlal Nehru, Manmohan Singh and Narasimha Rao.

Speaking at an event at the Mavalankar Hall, Constitution Club of India in the national capital, he said, “Finance Minister, while presenting the budget, had said that by 2024 India’s economy will reach USD 5 Trillion. It isn’t coming out of heaven. There’s a solid foundation and the foundation has been built not by Britishers but by Indians after Independence.”

“India has grown in leaps and bounds because Jawaharlal Nehru and others established IITs, ISRO, IIMs, banking network etc. This was built upon by Dr Manmohan Singh and Narasimha Rao when they liberalised the economy. That unleashed India’s economic potential. It is on that foundation that the Finance Minister can claim today that India will be a 5 trillion dollar economy,” he added.

He further said, “Those who criticise Congress rule of 50-55 years, they forget that from where we began and where we left. If the Indian economy is to be built to USD 5 Trillion, we left a strong foundation of US$1.8 Trillion from almost zero.”

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Mukherjee also said that the foundations of modern India were laid by our founders who firmly believed in a planned economy, as opposed to today, when the Planning Commission has been disbanded.

“Those who criticise Congress rule for 55 years are ignoring where India was at independence, and how far we have come. Yes, others also contributed but the foundations of modern India were laid by our founders who firmly believed in a planned economy, as opposed to today, when the Planning Commission has been disbanded,” said Mukherjee.

The former President’s lecture launched Samruddha Bharat’s monthly lecture series, Manthan, which will host India’s foremost policymakers, academics, and activists to engage in a dialogue on ways to safeguard and further the constitutional idea of India.

(With inputs from ANI)

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