Explanation:

In July 2019, the Union Budget 2019- 20 had articulated the vision of the Hon’ble Prime Minister to make India a US$ 5 trillion economy by 2024-25. The march towards this milestone has, however, been challenged by less than expected growth of India’s GDP so far this year, on the back of a decline in world output. Yet, given India's record of growth with macroeconomic stability over the last five years (annual average growth rate of 7.5 per cent and annual average inflation of 4.5 per cent), the economy is poised for a rebound towards the US$ 5 trillion goal.