Manmohan Singh: $5-trillion economy by 2024 looks like pipe dream

Former Prime Minister Manmohan Singh on Thursday argued that India is in the midst of a protracted slowdown, and launched an attack on the Central government over its management of the economy.

Addressing a meeting of top Congress leaders, Singh said the atmosphere in the country is one of “gloom and doom”, and that Prime Minister Narendra Modi’s talk of making India a $5-trillion economy by 2024 looks like a “pipe dream”.

“The dangerous thing about the present situation is that the government is complacent enough not to realise that we are in the midst of a protracted economic slowdown,” he added.