New Delhi: Expressing hope to make the country a $ 5 trillion economy, BJP president JP Nadda on Sunday said the country is steadily moving towards its goal. He went on to say that the effect can be seen by the progressive economic schemes and other measures of the Central government. Also Read - Is it Ram's Return Gift or Modi's $5 Trillion Economy? Twitter Makes Fun After Gold Found in Sonbhadra

“India is now the 5th largest economy in the world with a GDP of $ 2.94 Trillion. Under the visionary leadership of Hon PM @narendramodi Ji, the country is moving steadily towards $ 5 trillion economy goal. This is the impact of the progressive economic schemes and measures of the government,” Nadda said in a series of tweets. Also Read - We Have Bigger Dreams, Larger Hopes Than $5 Trillion Economy: PM Modi

He also added that the country’s progress is also clearly seen in all sectors, with a rise in purchasing power parity.

“India has shown tremendous growth in all sectors, with a rise in purchasing power parity, reflecting the positive impact of visionary steps and futuristic budget of the Central government,” Nadda added.

However, former prime minister Manmohan Singh last week stated that planning for a $5 trillion economy by 2024 is wishful thinking and that the government does not recognise the slowdown.

“Today, we have a government which does not recognise that there’s a word called slowdown. If you can’t recognise what is happening then you can’t take the correct action. The 5 trillion dollar economy is wishful thinking,” the former PM said last week.

Remembering the time in the 1990s, which was also known as the ‘reform period of the Indian economy,’ the former prime minister said, “The reforms period was a tortuous path. The Bombay Club was not in favour of liberalisation. But I knew I had very little time. I forced the government to devalue the rupee. I am very grateful to former Prime Minister PV Narasimha Rao for standing by me.”