Union Minister Dharmendra Pradhan. File
| Photo Credit: PTI

“Though several developed economies suffered badly owing to the COVID crisis, India continued to grow at 7-8% during the last 10 years,” Union Minister Dharmendra Pradhan said on Friday (November 15, 2024.)

In his keynote address at the Indian School of Business (ISB) in Hyderabad, Mr. Pradhan said India is set to become the third largest economy in the world in the next three to four years.

“Several developed economies in the world suffered badly owing to the COVID crisis. Still, we are thriving with a 7-8% growth rate since last decade and we will continue to do that,” he said.

India overtakes U.K. to become fifth largest economy in the world

The Minister of Education said India has a low corporate tax as Prime Minister Narendra Modi is very clear on not getting money to the exchequer by imposing more taxes, but more income in low slabs.

He further said 46% of the global digital payments are happening in India even as 25 crore people have been out of the poverty line.