'Equitable growth': Rajya Sabha likely to discuss India's economic situation

Sources told news agency PTI that the Rajya Sabha is set to discuss the Indian economy's present economic scenario on Tuesday. The scheduled discussion, titled 'bolstering the economy to boost equitable growth,' is slated to take place from 2 pm.

Senior Trinamool Congress leader Derek O'Brien has reportedly submitted a notice for a brief discussion on the current economic situation, and it has been approved by the Rajya Sabha.

The Winter Session of Parliament began on Monday and is scheduled to conclude on December 22.


The Finance Ministry on Monday informed the Lok Sabha that India will become a $5 trillion economy early in the 'Amrit Kaal' on the path to achieve the goal of becoming an advanced economy by 2047. India's GDP at the end of 2022-23 stood at $3.7 trillion.

"The government has set the goal of becoming an advanced economy by 2047. In the process, it will become a USD 5 trillion economy early in the Amrit Kaal," Minister of State for Finance Pankaj Chaudhary said.

Data released in the previous week showed that the Indian economy expanded by 7.6 per cent in the second quarter of the ongoing financial year, trumping analysts' expectations. Stronger-than-expected growth in the first half of the year, along with continued government spending and some revival in private investment has prompted economists to raise their growth forecast to higher than the government's estimate of 6.5 per cent.

Consumption remained weak, growing just 3.1% in the second quarter of the year signalling that parts of the economy are still to recover.

The Opposition has complained about the increasing gulf between the poor and the elites in India, with data showing a clear trend of K-shaped growth since the Covid-19 pandemic broke out/