← Claims

Missed deadline Promise · High confidence

India's nominal GDP was about US$3.76 trillion in 2024-25 (World Bank/IMF-based), short of the US$5 trillion target; the government has since moved the target year to 2027-28.

Test case in Suite B · score 0.25

English · ParaphrasedThe goal to make India a 5 trillion dollar economy by 2024 is challenging, but can surely be achieved.

Paraphrased from news reports; not a verbatim quote.

Speaker

Narendra Modi

Party

BJP

Office

Prime Minister

Venue

Fifth Governing Council meeting of NITI Aayog, New Delhi

Date

2019-06-15

Deadline

2025-03-31

Topics

economy

Researched by

claude-sonnet

Transcript / text sources

• PM's opening remarks at fifth meeting of Governing Council of NITI Aayog
• PMO/PIB item on the NITI Aayog meeting (pmindia.gov.in)
• Modi says Budget lays roadmap for India becoming USD 5 trn economy by 2024-25 (Daily Pioneer, 6 July 2019)

Evidence

The data

India nominal GDP in current US dollars (US$ trillion (current prices)) — Source: World Bank (World Development Indicators, NY.GDP.MKTP.CD), GDP (current US$) - India. Target: 5 (US$5 trillion target (2024-25)). Retrieved 2026-10-17 from the World Bank API (last updated 2026-10-08). World Bank labels India's data by the year in which the fiscal year starts; the values (e.g. 3.76 for the year labelled 2024) match IMF/press figures quoted for fiscal 2024-25, so x is shown as fiscal year. Labelling convention should be confirmed by a reviewer. The 2024-25 target in the claim was $5 trillion.

Government's response

Analysis

On 15 June 2019 Modi told the NITI Aayog Governing Council that the goal of a US$5 trillion economy by 2024 was challenging but achievable; the Economic Survey (4 July 2019) and Budget (5 July) set it out as a 2024-25 target with a base of about US$2.7 trillion.

World Bank data (fiscal-year labelling inferred) put nominal GDP at US$3.76 trillion in 2024-25 and US$3.96 trillion in 2025-26; the government told Parliament that the IMF April 2026 WEO figure for FY2025-26 is US$3.92 trillion. The target was therefore not met by 2024-25.

Nominal dollar GDP depends on the exchange rate as well as growth; the rupee depreciated in the period, and the 2020 contraction also affected the path. The government has since cited 2027-28 as the new date. There is ambiguity whether '2024' meant FY2023-24 or FY2024-25; under either reading the target was missed.

Confidence in verdict & review

Confidence in verdict

High

Review status

draft

Last reviewed

2026-10-17

Notes

Quote is the wording from the PMO/PIB item as relayed in search results; exact sentence not verified on the page (narendramodi.in fetch timed out), so quote_is_verbatim=false. Date of first '$5 trillion' public statement by Modi may predate June 2019 (campaign/Oct 2018 statements not checked). The Quint item is opinion; Business Today GDP figure is from a search summary.