‘Further reforms needed for India to reach developed country status by 2047’
4 months, 3 weeks ago

‘Further reforms needed for India to reach developed country status by 2047’

The Hindu  

Member of Fourteenth Finance Commission M. Govinda Rao has said that to achieve the status of a developed country by 2047, India has to increase its per capita income from the current $2,600 to $14,205. Delivering the Dr. D.C. Pavate Foundation Memorial Lecture at Karnatak University in Dharwad on Friday, Prof. Rao said that to achieve this goal, the country should raise the current PCI by 5.3 times and maintain a growth rate of over 9% per year. Despite the many challenges to achieving the status of a developed country, India can reach this target”, he said. Prof. Rao emphasised the need for adopting labour-intensive technology, achieving a higher Incremental Capital Output Ratio, investing over 42% of GDP, implementing reforms in land and labour laws to achieve the goal.

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History of this topic

CPI ridicules ‘Vision 2047’, picks holes in Chandrababu Naidu’s per capita claims
1 week, 1 day ago

CPI ridicules ‘Vision 2047’, picks holes in Chandrababu Naidu’s per capita claims

The Hindu  

Communist Party of India State secretary K. Ramakrishna criticised Chief Minister N. Chandrababu Naidu’s Swarna Andhra Vision-2047, saying it is “akin to a servile tribute to Prime Minister Narendra Modi’s Viksit Bharat”. How can the vision for a ‘Swarna Andhra’ be realised without first addressing the disparities between the rich and the poor?” Mr. Ramakrishna said at a press conference …

Strong Base Key for Growth: Modi
2 weeks ago

Strong Base Key for Growth: Modi

Deccan Chronicle  

New Delhi, Jaipur, Panipat: Prime Minister Narendra Modi on Monday said India’s progress following the mantra of “Perform, Transform and Reform” is visible in every field. Inaugurating the Rising Rajasthan Global Investment Summit 2024 and the Rajasthan Global Business Expo in Jaipur, the Prime Minister also said today every expert and investor in the world is very excited about India. …

India's inclusive growth applauded by International community: IMF Executive Director Subramanian
2 weeks, 2 days ago

India's inclusive growth applauded by International community: IMF Executive Director Subramanian

The Hindu  

The world is bullish on India, the country's top economist, currently Executive Director of the International Monetary Fund has said, noting that India’s public digital infrastructure and inclusive growth is not only being talked about but also applauded by the International community. Apart from that, the kind of inclusive growth that India has pursued over the last decade is also …

DC Edit | Indians don’t need larger families, only a better life
2 weeks, 6 days ago

DC Edit | Indians don’t need larger families, only a better life

Deccan Chronicle  

It may suit the political viewpoint of the Rashtriya Swayamsevak Samaj, ideological parent of the ruling BJP, to keep igniting the debate over population in India, as its chief Mohan Bhagwat did in saying most recently that a society would perish if its population growth rate fell below 2.1 and that the total fertility rate needs to be at least …

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 …

India's population projected to reach 1.53 billion by 2100: How can it leverage this growth?
1 month ago

India's population projected to reach 1.53 billion by 2100: How can it leverage this growth?

New Indian Express  

India, which became the most populous country in the world in 2023, surpassing China, is projected to have a total population of 1.53 billion by 2100, according to estimates from the United Nations. The UN's population growth estimate projects the total world population to reach 10.4 billion by 2100, based on factors such as fertility rates, increasing life expectancy, and …

Inclusive Growth and Social Empowerment: India's Economic Policies Rooted in Inclusive Growth and Social Empowerment
1 month, 3 weeks ago

Inclusive Growth and Social Empowerment: India's Economic Policies Rooted in Inclusive Growth and Social Empowerment

ABP News  

India's economic policies are rooted in inclusive growth and social empowerment. The government has implemented various initiatives such as the PM Ujjwala Yojana, Swachh Bharat Mission, and the Jan Dhan-Aadhaar-Mobile trinity to improve access to essential services, reduce financial exclusion, and minimize leakage through targeted DBTs.

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 …

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator
4 months, 3 weeks ago

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator

The Hindu  

A talk on ‘Tall claims and bleak realities - features of the contemporary Indian economy’ by Kerala State Planning Board member R. Ramkumar on July 26 expressed concern over the unscientific projection of gross domestic product rates as the nation’s prime growth indicator when the per capita Income was continuing at a very low rate. Presenting his view points at …

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas
5 months ago

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas

News 18  

Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25. Skill Gap Challenge The Economic Survey 2023-24 said 65 per cent of India’s fast-growing population is under 35, and many lack the skills needed by a modern economy. In India, the government has been paying focused attention to enabling …

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 …

Reforms to boost growth and stability will continue, asserts Nirmala Sitharaman after assuming charge as Finance Minister
6 months, 1 week ago

Reforms to boost growth and stability will continue, asserts Nirmala Sitharaman after assuming charge as Finance Minister

The Hindu  

The NDA government will continue to push the reforms drive initiated after 2014 with an eye on bolstering India’s macroeconomic stability and growth, Nirmala Sitharaman asserted on June 12 after taking over the reins of the Ministries of Finance and Corporate Affairs again. “She urged the departments to advance the NDA government’s development agenda with renewed vigour and ensure responsive …

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling
6 months, 2 weeks ago

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling

Al Jazeera  

Indian Prime Minister Narendra Modi and his Bharatiya Janata Party campaigned on India’s sizeable economic expansion in the lead-up to the country’s recent national elections. Despite strong headline economic growth, nearly half of India’s population is still employed in the relatively unproductive agricultural sector – a share that rose during Modi’s second term, from 42.5 percent in 2018-19 to 45.8 …

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 …

India to be third top economy in few years, says Nirmala Sitharaman
9 months, 1 week ago

India to be third top economy in few years, says Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on March 16 said India needs economic freedom to achieve developed nation status by 2047 and assured that the country would move to the third spot in the world economy from the current fifth position in the near future. ‘We should attain economic freedom’ Observing that India was a rich country about 400 years ago, …

Lower inflation, increase in per capita income, revenue: Delhi Economic Survey
9 months, 3 weeks ago

Lower inflation, increase in per capita income, revenue: Delhi Economic Survey

Hindustan Times  

Finance minister Atishi on Friday cited a 22% increase in per capita income, the fastest Gross State Domestic Product growth, an 18% rise in tax collection, lower inflation and unemployment rates and said Delhi’s economy has increased at a record pace as she presented this year’s Economic Survey in the assembly. “GSDP of Delhi at current prices during 2023-24 is …

Charting India's economic revival and global competitiveness
10 months ago

Charting India's economic revival and global competitiveness

Hindustan Times  

In her budget presentation, finance minister Nirmala Sitharaman unveiled a remarkable achievement in India's economic landscape, emphasising the Foreign Direct Investment surge. Signifying a commitment to fostering continuous economic growth, the finance minister announced a dedication to negotiating bilateral investment treaties, underscoring the government's proactive approach to encourage sustained foreign investment. These strategic measures align with India's vision of positioning …

States in focus, a budget that seeks to lift all boats
10 months, 3 weeks ago

States in focus, a budget that seeks to lift all boats

Hindustan Times  

NITI Aayog’s discussion paper, “Multidimensional Poverty in India since 2005-06”, shows that nearly 250 million Indians moved out of multidimensional poverty between 2013-14 and 2022-23. Interim Budget 2024-25, through its focus on the upliftment of garib, mahila, yuva and annadata, seeks to ensure that the tangible development gains of the last decade are sustained and further accelerated. This signals India’s …

Budget 2024: Average real income 50 per cent higher, inflation moderated, says Nirmala Sitharaman
10 months, 3 weeks ago

Budget 2024: Average real income 50 per cent higher, inflation moderated, says Nirmala Sitharaman

India TV News  

Union Finance Minister Nirmala Sitharaman said that the average real income of Indians has increased by 50 per cent and people's earnings have improved, leading to a better quality of life and increased aspirations for the future. Sitharaman attributed moderated inflation levels to good macroeconomic stability and robust investments. "There is macroeconomic stability, investments are robust, the economy is doing …

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 Needs to Address Issues Like Malnutrition to Become Developed Country: Rajan
1 year ago

India Needs to Address Issues Like Malnutrition to Become Developed Country: Rajan

Deccan Chronicle  

Hyderabad: India needs to address problems like malnutrition to become a developed nation and also focus on its most important asset of human capital, former RBI governor Raghuram Rajan said on Sunday. Speaking at an interactive session on a book co-authored by him at the Indian School of Business, he asked how the country could become a developed one when …

India poised to become a developed country by the year 2047, says Union Finance Minister Nirmala Sitharaman
1 year ago

India poised to become a developed country by the year 2047, says Union Finance Minister Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on Saturday said the NDA Government took significant steps for the transformation of India into a developed country by the year 2047 with due focus on inclusive growth and exuded confidence that it would reach the milestone. Launching Viksit Bharat Sankalp Yatra at Rayanapadu here, Ms. Sitharaman said Modi ki Guarantee vehicles were touring every …

Increase Investment in India, Goyal tells Corporates
1 year ago

Increase Investment in India, Goyal tells Corporates

Deccan Chronicle  

New Delhi: As India’s focus on infrastructure is empowering the economy and giving it a fillip, Union commerce minister Piyush Goyal on Friday urged the corporate to increase investments in India as the country was "at a sweet spot" with massive development of infrastructure driving the economy. The stock market is also hitting a 4 trillion mark for the first …

Government choices and policies have taken India's economy to new height: PM Modi
1 year ago

Government choices and policies have taken India's economy to new height: PM Modi

Firstpost  

Modi said that their biggest priority should be people’s ease of living, and took a swipe at past governments saying they ignored the equality envisaged by B R Ambedkar, the key figure behind the Constitution, among all citizens Prime Minister Narendra Modi on Thursday said his government’s policies and decisions have taken the economy to a new height, creating immense …

India Needs To Increase Per Capita Income, Says RBI’s Former Governor Rangarajan
1 year, 3 months ago

India Needs To Increase Per Capita Income, Says RBI’s Former Governor Rangarajan

ABP News  

Indian economy needs to grow fast to enhance the per capita income of the country, said the Reserve Bank of India’s former governor C Rangarajan on Saturday. Addressing the 13th convocation of the ICFAI Foundation for Higher Education, Rangarajan lauded India for becoming the fifth largest economy in the world but said this is not enough and work needs to …

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 …

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years
1 year, 4 months ago

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years

Live Mint  

New Delhi: A staggering 13.50 crore Indians have risen above the poverty line in the past five years, Prime Minister Narendra Modi said on Monday quoting a recent NITI Aayog report. Speaking at the Madhya Pradesh Rozgar Mela, the prime minister said, “When decisions are made with positive thinking, right intention, and full integrity, the whole environment gets filled with …

PM Modi Set India on Fast Track Development: FM
1 year, 4 months ago

PM Modi Set India on Fast Track Development: FM

Deccan Chronicle  

BHUBANESWAR: Union finance minister Nirmala Sitharaman on Thursday claimed that Prime Minister Narendra Modi’s visionary leadership had set India on the fast track of development and the momentum of the country’s economic progress was quite encouraging. India has already become the fifth largest economy and our growth momentum has been quite robust and encouraging under the present government led by …

India's Per Capita Income Doubles Since 2014-15
1 year, 9 months ago

India's Per Capita Income Doubles Since 2014-15

News 18  

India’s per capita income in nominal terms doubled to Rs 1,72,000 since 2014-15 when the Narendra Modi-led NDA came to power but uneven income distribution remains a challenge. “You are looking at GDP in current prices, but if you account for inflation, the increase is much less,” said noted development economist Jayati Ghosh on doubling of per capita income in …

India's per capita income doubled since 2014-15, but uneven income distribution remains a challenge
1 year, 9 months ago

India's per capita income doubled since 2014-15, but uneven income distribution remains a challenge

India Today  

Despite India's per capita income in nominal terms doubling to Rs 1,72,000 since the Narendra Modi-led NDA came to power in 2014-15, the issue of uneven income distribution remains a persistent challenge, experts were quoted as saying by news agency PTI. However, after adjusting for inflation, the per capita income has risen by approximately 35 per cent from Rs 72,805 …

India remains a ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD
1 year, 10 months ago

India remains a ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD

The Hindu  

India continues to remain a relative "bright spot" in the world economy, and will alone contribute 15% of the global growth in 2023, International Monetary Fund Managing Director Kristalina Georgieva said. And in that way, India is providing about 15% of global growth in 2023," Ms. Georgieva told PTI in an interview. India remains a bright spot at a time …

Parsa Venkateshwar Rao Jr | Slow economic growth a major challenge for govt
1 year, 10 months ago

Parsa Venkateshwar Rao Jr | Slow economic growth a major challenge for govt

Deccan Chronicle  

The economic indicators listed in the monetary policy statement of the Reserve Bank of India, raising the repo rate to 6.5 per cent from 6.25 per cent on February 8, is sobering after the high rhetoric used by finance minister Nirmala Sitharaman in her Budget speech on February 1. The revenue buoyancy of the government, especially from the Goods and …

India must avoid growing into a dystopia
1 year, 10 months ago

India must avoid growing into a dystopia

The Hindu  

The Budget that was presented recently, has received almost universal praise in the English language media. Next, as 2022 drew to a close, the London-based consultancy Centre for Economics and Business Research predicted that by 2035, India’s economy would reach $10 trillion and become the world’s third largest by 2037. A few days ago, a leading Indian financial daily calculated …

Budget envisions prosperous and inclusive India: Gadkari
1 year, 10 months ago

Budget envisions prosperous and inclusive India: Gadkari

Live Mint  

New Delhi: Road minister Nitin Gadkari on Wednesday said that the Budget presented by finance minister Nirmala Sitharaman envisions a prosperous and inclusive India. “Driving the country to ‘Aatmanirbharta’, this budget will equip India with new-age infrastructure, decline imports and strengthen the energy sector with a futuristic approach.” Gadkari added that inclusive development, reaching the last mile, infrastructure and investment, …

Budget 2023-24: A lookback at the achievements of Modi govt since 2014
1 year, 10 months ago

Budget 2023-24: A lookback at the achievements of Modi govt since 2014

Firstpost  

The Union Finance Minister has provided credit for the efficient implementation of many schemes with the universalisation of targeted benefits for the resultant inclusive development across the country since 2014. New Delhi: The government’s efforts since 2014 have ensured all citizens a better quality of living and a life of dignity, said Union Finance Minister Nirmala Sitharaman. “We have significantly …

India to raise spending on job creation before election
1 year, 10 months ago

India to raise spending on job creation before election

Al Jazeera  

Finance Minister Nirmala Sitharaman said private investment was rising after the pandemic and the government should focus on driving growth. Prime Minister Narendra Modi’s government presented to Parliament an annual budget of $550bn that calls for ramping up capital spending by 33 percent to spur economic growth and create jobs in advance of a general election next year. The government …

The global economy needs a new powerhouse. India is stepping up
1 year, 11 months ago

The global economy needs a new powerhouse. India is stepping up

Live Mint  

India’s economic transformation is kicking into high gear.Global manufacturers are looking beyond China, with Prime Minister Narendra Modi stepping up to seize the moment. “India is on the cusp of huge change,” said Nandan Nilekani, a founder of Infosys Ltd., one of the nation’s largest technology services companies. “A lot of companies feel that given its size, given its young …

\'India\'s GDP nearing to $20 trillion, per capital income at $10k by 2047\'
1 year, 11 months ago

\'India\'s GDP nearing to $20 trillion, per capital income at $10k by 2047\'

Deccan Chronicle  

HYDERABAD: India's GDP will be close to USD 20 trillion by 2047 and per capita income may reach USD 10,000, Bibek Debroy, chairman, Economic Advisory Council to the Prime Minister, said on Wednesday. Virtually addressing the inaugural session at the 57th Annual Conference of the Indian Econometric Society held at the University of Hyderabad here, he said though the COVID-19 …

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 …

Parsa Venkateshwar Rao Jr | Towards a more affluent India: Future not all rosy
2 years, 1 month ago

Parsa Venkateshwar Rao Jr | Towards a more affluent India: Future not all rosy

Deccan Chronicle  

The optimistic projection of the People Research on India’s Consumer Economy is that by 2047 -- when Independent India turns 100 -- the country’s middle class will constitute 63 per cent of the population. The experience of the last 30 years has shown that we are better off with a free market economy despite numerous governmental irritants and the more …

India will come out of current global turmoil, move on path of sustained growth: FM
2 years, 2 months ago

India will come out of current global turmoil, move on path of sustained growth: FM

Deccan Chronicle  

WASHINGTON: Finance Minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government. She said India has been able to set up a global benchmark in digitisation in areas of payment, healthcare, education and regulatory …

Innovation to be key in making India developed nation by 2047, says Sitharaman
2 years, 2 months ago

Innovation to be key in making India developed nation by 2047, says Sitharaman

Deccan Chronicle  

BENGALURU: Union Finance Minister Nirmala Sitharaman on Thursday said innovation is going to be key factor in making India a developed nation by 2047, as she highlighted the immense potential of digitalisation in achieving this. It is because of the innovation, the solutions which we have for very many of the festering problems of this economy, we can achieve that …

India becoming world\'s 5th largest economy no ordinary feat: PM Modi
2 years, 3 months ago

India becoming world\'s 5th largest economy no ordinary feat: PM Modi

Deccan Chronicle  

SURAT: Prime Minister Narendra Modi on Thursday said India has become the fifth largest economy in the world and this is not an ordinary achievement. He was virtually addressing beneficiaries of various government schemes and those present at a mega medical camp organised in Olpad area of Surat city in Gujarat, where the Assembly polls are due later this year. …

Aakar Patel | Can India do what it takes to make a big leap forward?
2 years, 3 months ago

Aakar Patel | Can India do what it takes to make a big leap forward?

Deccan Chronicle  

India has overtaken the United Kingdom to become the world’s fifth largest economy. In the 10 years till 1993, that nation grew its GDP by 15 per cent each year to reach $8,884. The World Bank’s data shows that India’s per capita income in 1960 was $82, while China’s was $89. To grow at 15 per cent per year is …

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 …

Take five pledges to make India developed nation by 2047: PM
2 years, 4 months ago

Take five pledges to make India developed nation by 2047: PM

Hindustan Times  

Prime Minister Narendra Modi on Monday set five resolutions for India to become a developed country by its 100th year of independence in 2047 as he etched an expansive map for national, social, economic and technological progress, touching on issues of gender equality, self-dependence, innovation, and the fight against corruption. Speaking from the ramparts of the Red Fort to mark …

The inequality challenge for India@75
2 years, 4 months ago

The inequality challenge for India@75

Live Mint  

During the period 1950-51 to 2019-20, for which evidence is available, in real terms, growth in GDP was 4.9% per annum while growth in GDP per capita was 2.9% per annum. This provides a sharp contrast with the period 1900-01 to 1946-47 during the colonial era, when national income growth was 1% per annum and per capita income growth was …

India’s population growth: Is it boon or bane?
2 years, 5 months ago

India’s population growth: Is it boon or bane?

Firstpost  

The greatest growth in population in India, higher than the national average, is taking place amongst the poorest, in the least developed states, amongst the uneducated and malnourished Of the current world population of 8 billion in 2022, India and China account for roughly 2.8 billion, on a more or less equal basis. However, the greatest growth in population in …

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