Indian economy in tatters, colossal downfall in pursuit of PM Modi's $5- trillion dream: Abhishek Banerjee

Kolkata: Senior TMC leader Abhishek Banerjee on Wednesday said the country's economy is in "tatters", and described IMF's projections of Bangladesh surpassing India in terms of per capita GDP as "our colossal downfall" in pursuit of Prime Minister Narendra Modi's "5 trillion dream". Abhishek, who is an MP and also president of TMC youth congress, posted a news clip on his Twitter handle to take a dig at the Union government.

"Indian Economy in tatters, as even Bangladesh is set to overtake us in Per Capita GDP as per @IMFNews's World Economic Outlook. Listen carefully, it's not their resurgence, but our colossal downfall, in pursuit of @narendramodi Ji's 5 Trillion dream!," Abhishek, the nephew of West Bengal Chief Minister Mamata Banerjee, said.

The PM has set a goal of making India a $5-trillion economy by 2024.


The International Monetary Fund had said on Tuesday said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.

India however, is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest-growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said in its latest World Economic Outlook report.