Sanjay Raut Questions India's Economic Growth Amid High Unemployment
Sanjay Raut, a prominent Shiv Sena leader, has raised serious concerns about India's claim of being the world's fourth-largest economy, citing alarming unemployment rates and the reliance of millions on free food grains. His remarks come in the wake of NITI Aayog's CEO announcing India's economic growth, which he attributes to IMF data. Raut's skepticism highlights the stark contrast between official statistics and the ground realities faced by many citizens. Prime Minister Modi has also emphasized the need for India to become a developed nation by 2047, indicating a clear vision for the future. This article delves into the ongoing debate surrounding India's economic status and the challenges that lie ahead.
| May 28, 2025, 12:56 IST
Concerns Over Economic Claims
Sanjay Raut, a member of the Shiv Sena (UBT), raised doubts on Wednesday regarding India's status as the world's fourth-largest economy, challenging the basis for celebration amidst record-high unemployment and declining foreign investment. Speaking to the media, Raut emphasized that claims of economic growth are hollow in a country where 850 million people still rely on free food grains. He questioned, 'In a nation where Prime Minister Modi has to provide free grains to 850 million poor individuals, where unemployment is at its peak and foreign investments have stalled, how can one assert that we have become the fourth-largest economy in the world?'
Official Statements on Economic Growth
On Friday evening, Subrahmanyam, the CEO of NITI Aayog, addressed a press conference following the 10th Governing Council meeting, themed 'Developed States for Developed India 2047.' He stated that India has surpassed Japan to become the fourth-largest economy globally. Citing data from the International Monetary Fund (IMF), he noted that India's economy has reached a staggering $4 trillion.
Future Economic Aspirations
Subrahmanyam remarked, 'As I speak, we are the fourth-largest economy. Our economy stands at $4 trillion. This is not my data; it is from the IMF. Today, India is larger than Japan, with only the United States, China, and Germany ahead of us. If we continue on the planned trajectory, it is only a matter of two to three years before we become the third-largest economy.'
Prime Minister's Vision
Earlier on Tuesday, Prime Minister Narendra Modi highlighted the increasing pressure to ascend the ladder of top global economies, stating that the excitement surrounding India's emergence as the fourth-largest economy goes beyond mere celebration. He emphasized that the goal is clear: India must become a developed nation by 2047 without any compromises.