Now a days, it has been frequently listened that Indian Economy would become worth $5 trillion by the end of 2024. The present government seems to be all committed to reach this mammoth target only in dialogues and speeches. Success or failure of any economy depends upon the efficiency and effectiveness of the government because the government plans, formulates policies or strategies, implements the same and deploys resources. No doubts, the external environment such as conditions prevalent in the global economy also put impact on the individual economies yet the government has a crucial role to play therein. Through this article, the authors have tried to evaluate the Indian economy on the basis of the performance of selected seven variables (GDP growth rate, Fiscal Deficit as % of GDP, Inflation Rate (Retail Consumer Price Index and wholesale Price index), Volume of Foreign Exchange Reserves, Output Growth Rate of Primary, Secondary and Tertiary Sectors, International Hunger Index) for the period of three years starting from 2016-17 to 2018-19. This article is based on the secondary data accessed from various websites and articles available online through internet. The performance of Indian economy is worth appreciating as far as Fiscal Deficit, Inflation and Foreign Exchange reserves are concerned, but the position for the rest of the variables has not been satisfactory. So the target of becoming $ 5 trillion economy seems too difficult to be achieved, if not impossible.