Rich India: Will India become a wealthy nation by 2047?
11 months, 1 week ago

Rich India: Will India become a wealthy nation by 2047?

The Hindu  

Rich India: Will India become a wealthy nation by 2047? She has served as a member of several international boards and commissions, including the UN High-Level Advisory Board on Economic and Social Affairs, the WHO Council on the Economics of Health for All, and the UN Secretary General’s High-Level Advisory Board on Effective Multilateralism. She is the recipient of several awards, including the International Labour Organisation’s Decent Work Research Prize for 2011; and the Galbraith Award of the Agricultural and Applied Economics Association, “in recognition of breakthrough discoveries in economics and outstanding contributions to humanity through leadership, research and service.” Montek Singh Ahluwalia is a renowned economist and key figure in India’s economic reforms since the mid-1980s. In 2011, he was awarded the prestigious Padma Vibhushan, India’s second highest civilian honour, by the President of India for his outstanding contribution to economic policy and public service. He serves on the boards of several not-for-profit organisations including Mobile Creches, SEWA GRIH RIN Ltd., the World Food Programme Trust in India and the Karnataka Health Promotion Trust.

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History of this topic

‘India must impose more taxes on super-rich’: Economist Thomas Piketty as top 1% hold over 40% of nation’s wealth
1 week, 2 days ago

‘India must impose more taxes on super-rich’: Economist Thomas Piketty as top 1% hold over 40% of nation’s wealth

Live Mint  

NEW DELHI - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-based think tank Research and Information System for Developing Countries and the Delhi School of Economics. He said India …

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report
1 month ago

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report

New Indian Express  

NEW DELHI: India is set to play a pivotal role in global workforce growth, contributing 20 per cent of it between 2023 and 2050, according to a report by Angel One Wealth. It said, "By 2030 high-income households are expected to triple, while middle-income households will nearly double making India the fastest-growing nation in terms of per capita income". The …

Opinion: Maharashtra, India's miracle state, finds itself at a crossroads
1 month ago

Opinion: Maharashtra, India's miracle state, finds itself at a crossroads

India Today  

Maharashtra, India's most prosperous and second most populous state, has been a marvel that has often defied the conventional tale of modern development. In 1947, at the time of India’s independence, the regions of West Bengal, Maharashtra, and Tamil Nadu led much of India's economic activity as large British presidencies. On the human capital front, the state traditionally possessed strong …

Review of Krishnamurthy Subramanian’s India@100 — Envisioning Tomorrow’s Economic Powerhouse: Dreams, with a catch
3 months, 3 weeks ago

Review of Krishnamurthy Subramanian’s India@100 — Envisioning Tomorrow’s Economic Powerhouse: Dreams, with a catch

The Hindu  

Goldman Sachs expects India’s economy to grow to $50 trillion by 2075, that is, in a little over 50 years from now. But former chief economic adviser to the Narendra Modi government, Krishnamurthy Subramanian, in a new book, India@100: Envisioning Tomorrow’s Economic Powerhouse, believes that India has the potential to do far better and that it could possibly become even …

NITI Aayog Envisions India as $30 Trillion Economy by 2047
4 months, 3 weeks ago

NITI Aayog Envisions India as $30 Trillion Economy by 2047

Deccan Chronicle  

New Delhi: India's policy think-tank NITI Aayog said that the country needs to strive to be a $30 trillion economy — almost nine times from today's $3.36 trillion, with a per capita income of $18,000 per annum by 2047, according to its approach paper for vision for Vikshit Bharat in 2047. “The gross domestic product or GDP would have to …

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025
6 months ago

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

Times of India  

NEW DELHI: The International Monetary Fund has forecast that India's GDP is likely to grow to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025. "In India, the outlook is for GDP growth to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025, because pent-up demand accumulated during the pandemic has been …

Towards a less poor and more equal country
7 months, 4 weeks ago

Towards a less poor and more equal country

The Hindu  

In March, World Inequality Lab, a global research centre focused on inequality and public policies, published a working paper titled, ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj’. It states that “the ‘Billionaire Raj’ headed by India’s modern bourgeoisie is now more unequal than the British Raj headed by the colonialist forces.” Inequality undermines both …

Will India be a developed country by 2047? Raghuram Rajan says ‘nonsense to even talk about it’
8 months, 3 weeks ago

Will India be a developed country by 2047? Raghuram Rajan says ‘nonsense to even talk about it’

Hindustan Times  

Raghuram Rajan said that India is making a big mistake believing “hype” around its strong economic growth. Raghuram Rajan's response India will not be a developed economy by 2047, Raghuram Rajan said adding that it would be “nonsense” to talk of that goal “if so many of your kids don’t have a high school education and drop-out rates remain high." …

What should India do to become a wealthy nation by 2047?
10 months, 3 weeks ago

What should India do to become a wealthy nation by 2047?

The Hindu  

In the first session of The Hindu Lit Fest 2024, N. Ravi, Chairman of Kasturi and Sons Limited; Jayati Ghosh, Professor of Economics at the University of Massachusetts Amherst; Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission; Sanjay Kaul, development policy analyst and former IAS officer; and T.N. Along with inclusive growth, you also need the development of …

India to be $5 trillion economy by end of 2025: Amit Shah
1 year ago

India to be $5 trillion economy by end of 2025: Amit Shah

The Hindu  

Union Home Minister Amit Shah on December 9 said India will become a $5 trillion economy by the end of 2025. Addressing the valedictory session of the Uttarakhand Global Investors Summit in Dehradun, Mr. Shah said India has grown exponentially on every front over the past one decade due to the farsighted and visionary leadership of Prime Minister Narendra Modi. …

India's economic growth ‘natural by-product’ of 9 years of stability: PM Modi
1 year, 3 months ago

India's economic growth ‘natural by-product’ of 9 years of stability: PM Modi

Hindustan Times  

Prime Minister Narendra Modi has said that India’s economic growth is a “natural by-product” of his nine-year-old government’s political stability, as he expressed optimism that it will be a developed nation by 2047 with "corruption, casteism and communalism" having no place in our national life. The rapid and sustained progress made by India has evoked interest across the world and …

Why are the rich leaving India?
1 year, 6 months ago

Why are the rich leaving India?

Live Mint  

India is expected to lose 6,500 high net-worth individuals, worth $1 million or more this year, according to Henley and Partners, an advisory firm on investment-linked visas. Last year, India lost 7,500 HNWIs, the 3rd highest after China and war-wrecked Russia. The report said “these outflows are not particularly concerning as India produces far more new millionaires than it loses …

2023 Should Be India’s Year
1 year, 11 months ago

2023 Should Be India’s Year

The Diplomat  

As president of the G-20 and the SCO this year, India is in a position to project global leadership. The theme of India’s G-20 presidency is “Vasudhaiva Kutumbakam” – loosely translated as “The World is One Family” or as the Indian government puts it on its G-20 website, “One Earth – One Family – One Future.” This lofty sentiment, which …

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor
1 year, 11 months ago

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor

News 18  

Noting that the achievement of $5 trillion economy is a short term “aspirational goal,” former RBI Governor C Rangarajan on Saturday said even after that India will still be known as middle income country with per capita income $3472. Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and …

Indian economy 'can touch USD 20 trillion by 2047'
2 years, 3 months ago

Indian economy 'can touch USD 20 trillion by 2047'

Firstpost  

India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation New Delhi: Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said Indian economy’s size will touch USD 20 trillion by 2047 provided the annual average growth is 7-7.5 per cent in the next 25 …

How to sustain 7% growth for India
2 years, 3 months ago

How to sustain 7% growth for India

Live Mint  

One country stands out from the gloomy overall tone of the International Monetary Fund’s recent update of its World Economic Outlook. This is the fastest growth of any large economy except Saudi Arabia, which is the incidental beneficiary of upward pressure on global oil prices from Russian President Vladimir Putin’s war against Ukraine. One might also note that, with India’s …

Sanjeev Ahluwalia | Can India be a developed nation before it gets rich?
2 years, 4 months ago

Sanjeev Ahluwalia | Can India be a developed nation before it gets rich?

Deccan Chronicle  

Prime Minister Narendra Modi advocated India becoming a developed nation by 2047, as the new national aspiration, on Independence Day this year. Over the next 25 years, we should double our per capita growth momentum over the four per cent per year that we achieved in the period between 2012 and 2021. Sadly, even a relatively high growth rate of …

India@75 survey: Most don’t see $5-trln-GDP by 2027, but see bright family future
2 years, 4 months ago

India@75 survey: Most don’t see $5-trln-GDP by 2027, but see bright family future

Live Mint  

Emerging fresh out of a once-in-a-century pandemic that left many unemployed or with pay cuts, Indians are hopeful of a brighter future as the country enters into a new era with the 75th year of independence. Over 61% of the respondents said they expected their family’s economic well-being to be “much better" or “a little better" in a few years, …

India’s success based on technology-led growth with innovation, startups: PM Modi at BRICS Business Forum
2 years, 6 months ago

India’s success based on technology-led growth with innovation, startups: PM Modi at BRICS Business Forum

India TV News  

Highlights India supports innovation across every sector, PM Modi said during BRICS Business Forum This year we are expecting 7.5% growth, which makes us the fastest-growing major economy, PM said By 2025, India's digital sectors value will cross $1 trillion valuations, PM Modi mentioned Prime Minister Narendra Modi on Wednesday said India’s success is based on technology-led growth with innovation …

India's GDP Expected To Grow 9% in FY22, May Clock Over 8% Growth in FY23: PHDCCI
2 years, 8 months ago

India's GDP Expected To Grow 9% in FY22, May Clock Over 8% Growth in FY23: PHDCCI

News 18  

India’s gross domestic product is expected to have grown nine per cent in the financial year 2021-22, which is the highest among the leading economies, and the growth is likely to be over eight per cent in the current financial year, according to the PHD Chamber of Commerce and Industry. “At this juncture, the percolation of ease of doing business …

Number of Indian billionaires rose to 142 in 2021
2 years, 11 months ago

Number of Indian billionaires rose to 142 in 2021

New Indian Express  

NEW DELHI: The number of Indian billionaires grew from 102 to 142, while 84 per cent of households in the country suffered a decline in their income in 2021, which was also a year marked by tremendous loss of life and livelihoods, according to non profit Oxfam India's latest report published on Monday. It indicates that the collective wealth of …

India can be at par with US and China by 2047, says Mukesh Ambani
3 years, 4 months ago

India can be at par with US and China by 2047, says Mukesh Ambani

India TV News  

Three decades of economic reforms in India have benefited citizens unevenly and there is a need for the "Indian model" of development to focus on creating wealth at the bottom of the pyramid, the richest Indian Mukesh Ambani said exuding confidence that the country can be at par with the US and China by 2047. Writing a rare column on …

Book tells what rise of India in the 2020s looks like
3 years, 11 months ago

Book tells what rise of India in the 2020s looks like

Hindustan Times  

A new book captures the many aspects of a future that will culminate in India becoming the world's third-largest economy and a regional power before the decade gets over. "India 2030: The Rise of a Rajasic Nation" is a collection of essays by the likes of Bibek Debroy, Vikram Sood, Raghunath Anant Mashelkar, Ram Madhav and David Frawley, among others. …

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