India likely to become 5th largest economy by next year: FM Jaitley

Finance Minister Arun Jaitley on Monday said that India is likely to become 5th largest economy by next year.

Addressing Annual General Meeting of Indian Banks Association through video conferencing in New Delhi, Jaitley said banking system has reached all household under the present government and pace of financial inclusion among fastest compare to other countries.

He said banks are heart and soul of country’s economy and the role of banks will increase as India expands and grows.

He added that runaway success of Jan Dhan Yojana, Mudra Yojna and marketing of low cost pension schemes were achieved by Indian banks.