The Government has set the goal of becoming an advanced economy by 2047. In a written reply in Lok Sabha, Minister of State for Finance Pankaj Chaudhary said that in the process, it will become a five trillion dollar economy early in the Amrit Kaal. 

He said this milestone will be crossed with the help of a strong rupee which will result from macroeconomic stability. The International Monetary Fund projects India to become a five trillion dollar economy with the third largest GDP in 2027-28. The Minister said India is a market economy and the government monitors economic progress through market-determined GDP and exchange rate.