Pvt investment must for $5-tn goal: SBI chief

Hyderabad, January 4

State Bank of India Chairman Rajnish Kumar on Saturday said the country could become a USD 5-trillion economy but was skeptical whether it was achievable by 2024-25, as envisaged by the government. Speaking at an interactive session organsied by FICCI, he said private investment was necessary for achieving the target.

“USD 5 trillion. We will definitely achieve, there is no doubt. Timeframe, I am not certain. Whether we’ll achieve in five years, it is like, a very difficult question to answer. But USD 5 trillion, we will achieve for sure and again I’m saying that it will come on the back of private sector investment revival,” he said replying to a query.

He said government investment alone could not achieve the target and there was a need for huge investments in the infrastructure sector which would boost the GDP. FICCI president Sangitha Reddy said there was a slow down and the government needed to infuse Rs 1 lakh-2 lakh crore to revive the sentiment. — PTI

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