Executive director at the International Monetary Fund (IMF) Krishnamurthy Subramanian on Wednesday said that the size of the Indian economy has the potential to touch USD 55 trillion by 2047 if the growth rate in dollar terms remains at 12 per cent. Speaking at a CII event, Subramanian, the former chief economic advisor to the government from 2018 to 2021, said that inflation targetting since 2016 had helped the country average out the rate of price rise to five per cent. Before 2016, the average rate of inflation was 7.5 per cent, he said.
