In December last year, Rajan, during an informal chat with former Congress chief Rahul Gandhi, said that India would be lucky to achieve 5 per cent growth.
India is projected to grow at 6.3 per cent in FY 2023-24, but it will be slightly less in the next financial year. The central government had set up a target to become a $5 trillion economy but many financial institutions have predicted that this target may be achieved by 2027.