The Indian economy will double to $5 tr by 2022 with manufacturing and agriculture contributing $1 tr each, Prime Minister Narendra Modi said recently. Speaking at the foundation laying ceremony of India International Convention and Expo Centre in New Delhi, he said the economy will grow at over 8 per cent with massive employment generation.

Jobs will be generated in information technology and retail sectors as macroeconomic fundamentals of the economy are strong, a premier quoted him as saying. Referring to the recent announcement of the merger of Dena Bank, Vijaya Bank and Bank of Baroda to create the country’s third largest lender, he said the government will not shy away from taking tough decisions.