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." The lack of human capital will stay with us for decades.” What Raghuram Rajan said on chip manufacturing in India? I worry that we’ve become more fixated on prestige projects, which suggest more great nation ambition, such as chip manufacturing, while leaving the underpinnings that will contribute to a sustainable chip manufacturing industry.” What India can learn from China as per Raghuram Rajan?

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History of this topic

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre
Trending News
3 weeks, 1 day ago

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre

Hindustan Times  

Leader of Opposition in the Lok Sabha, Rahul Gandhi on Sunday said that the India's Gross Domestic Product growth rate has fallen to its lowest in two years at 5.4 percent. Rahul Gandhi on Sunday said India's GDP growth has dropped to 5.4 percent, the lowest in two years. The thing is clear - the Indian economy cannot progress as …

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 …

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 …

India lost the manufacturing race to China. Here's why it could still succeed
6 months, 2 weeks ago

India lost the manufacturing race to China. Here's why it could still succeed

NPR  

India lost the manufacturing race to China. The Ticking Clock For Indian Economic Development While India’s economy has fallen dramatically behind China’s in recent decades, it’s been looking better recently. “Today, when India enters, it's not competing with Western countries, it is competing with Bangladesh, Vietnam, and still China,” Rajan says. To achieve this vision, Rajan believes India needs to …

India's 2024 economic growth projection revised upwards by U.N. to nearly 7%
7 months ago

India's 2024 economic growth projection revised upwards by U.N. to nearly 7%

The Hindu  

The United Nations has revised upwards India’s growth projections for 2024, with the country’s economy now forecast to expand by close to 7% this year, mainly driven by strong public investment and resilient private consumption. The World Economic Situation and Prospects as of mid-2024, released Thursday, said, “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in …

Raghuram G Rajan - “Everyone should have a chance to succeed”
7 months, 1 week ago

Raghuram G Rajan - “Everyone should have a chance to succeed”

Hindustan Times  

In what context did the two of you get to know each other? I got an email from this guy at Princeton University, who said: “I want to come and work with you for some time.” I knew a professor at Princeton, so I asked him: “Is this guy a crazy guy or what?” The professor said: “No, he is …

Indian economy projected to grow 6.5% in 2024: UNCTAD
8 months ago

Indian economy projected to grow 6.5% in 2024: UNCTAD

The Hindu  

India’s economy is projected to grow by 6.5% in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. “The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services …

India not reaping benefits of demographic dividend: Raghuram Rajan
8 months ago

India not reaping benefits of demographic dividend: Raghuram Rajan

The Hindu  

India is not reaping the benefits of demographic dividends, former RBI governor Raghuram Rajan said on April 16, emphasising that there is a need to focus on improving the human capital and enhancing their skill sets. “I think we are in the midst of it, but the problem is we are not reaping the benefits,” Mr. Rajan said at a …

On-target growth: 8% plus in 2023-24?
8 months, 3 weeks ago

On-target growth: 8% plus in 2023-24?

Live Mint  

Finance minister Nirmala Sitharaman has hinted that India’s economy will see gross domestic product expand 8% or more in the three months ended 31 March. “Hopefully, the fourth quarter… will also have 8% or above 8%, resulting in 2023-24 having an average growth in GDP of 8% or over 8%," she said at a Mint summit on Saturday. Further, for …

Vantage | What India must do to be a $7 trillion economy by 2030
10 months, 3 weeks ago

Vantage | What India must do to be a $7 trillion economy by 2030

Firstpost  

As the Indian government gears up to present the annual budget in what is considered the last one ahead of the general election, the focus is on maintaining stability with an interim budget. In the next three years, India aims to secure its position as the world’s third-largest economy, targeting a GDP of $5 trillion dollars. Projections for India’s growth …

Budget 2024: Can India become a $7 trillion economy by 2030?
10 months, 3 weeks ago

Budget 2024: Can India become a $7 trillion economy by 2030?

India Today  

A recent review report released by the government has estimated India's potential economic trajectory, aiming to hit the $7 trillion mark by 2030, ahead of the upcoming Interim Budget 2024-25. "India's unwavering commitment to ensuring steady economic growth is generating resources for investment needed for climate change adaptation, building resilience, and mitigating emissions,' the Finance Ministry report said. The report …

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 …

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 will remain lower middle economy by 2047 if...': Raghuram Rajan on country's growth
1 year ago

'India will remain lower middle economy by 2047 if...': Raghuram Rajan on country's growth

India TV News  

Former Reserve Bank Governor Raghuram Rajan claimed that India would reach the end of the demographic dividend by 2047 and still be classified as a lower middle-income country if the growth rate remains at 6 per cent per year without any growth in population. Today, the per capita income in India, as you know, is just a little below $2,500 …

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. …

Indian economic prospects may require a more realistic analysis
1 year, 3 months ago

Indian economic prospects may require a more realistic analysis

Live Mint  

The chaos and cacophony of bazaars have a life-affirming quality. Walking through a Delhi bazaar last week, chatting with friendly shopkeepers and roadside merchants and revelling in the warm glow of traditional India, it was impossible not to feel optimistic about the country’s prospects. Recall that, in 2020-21, India’s economy, still recovering from an unwarranted demonetization, contracted by 7% as …

ECONOMIC PERSPECTIVES | Is the Indian economy booming in the 76th year of independence?
1 year, 3 months ago

ECONOMIC PERSPECTIVES | Is the Indian economy booming in the 76th year of independence?

The Hindu  

Published : Aug 24, 2023 11:00 IST - 6 MINS READ On the completion of 76 years since Indian Independence, a wide range of “informed” opinions from government spokespersons, non-government analysts, and large sections of the domestic and foreign media, enthusiastically or grudgingly declared that, as an economy, India is doing very well. This bounce back from the 5.8 per …

WATCH | India to be among top 3 economies of world by 2027: Rajnath Singh
1 year, 6 months ago

WATCH | India to be among top 3 economies of world by 2027: Rajnath Singh

India TV News  

Rajnath Singh on Indian economy: Defence Minister Rajnath Singh today called upon the young ignited minds of the country to come out with new ideas and innovations and help the government in making India a developed nation by 2047 as envisioned by Prime Minister Narendra Modi. Rajnath Singh asserted that India has entered its golden age and it is surging …

India's GDP growth exceeds expectations, but key to 'Amrit Kaal' lies in manufacturing
1 year, 6 months ago

India's GDP growth exceeds expectations, but key to 'Amrit Kaal' lies in manufacturing

Firstpost  

The coming 24-25 years will be crucial to India in determining its stakes as a global political and economic power. The fifth-largest economy now needs to gear up to its highest potential, with the manufacturing sector being given a fair chance to show its charisma Outperforming expectations, India’s GDP grew at the rate of 6.1 per cent in the last …

Jobs for the young must be a key policy priority
1 year, 6 months ago

Jobs for the young must be a key policy priority

Hindustan Times  

Economic data published this week turned my attention to economics, economies, and the numbers or statistics that make up the raw material that economists study. But he found that mathematical calculations very often produced wrong results, so preferring to be, as he put it, roughly right rather than absolutely wrong, he joined the World Bank, There, he held senior positions …

Indian Economy Expected To Grow 6.7% In 2024, Country Remains A Bright Spot: UN
1 year, 7 months ago

Indian Economy Expected To Grow 6.7% In 2024, Country Remains A Bright Spot: UN

News 18  

India’s economy is expected to grow by 6.7 per cent in the calendar year 2024, supported by resilient domestic demand, according to a UN report which said higher interest rates and weaker external demand will continue to weigh on investment and exports this year for the country. The World Economic Situation and Prospects as of mid-2023 released on Tuesday said …

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI
1 year, 9 months ago

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI

ABP News  

The Reserve Bank of India, in its monthly bulletin for March, said unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the pandemic years stronger than …

India is dangerously close to 'Hindu rate of growth', says Raghuram Rajan - What does it mean
1 year, 9 months ago

India is dangerously close to 'Hindu rate of growth', says Raghuram Rajan - What does it mean

India TV News  

India is "dangerously close" to the Hindu rate of growth, Reserve Bank of India former Governor Raghuram Rajan has alerted after GDP in the third quarter of the current fiscal slowed from the third quarter to 4.4 per cent. The latest October-December Indian GDP numbers suggest slowing growth from the heady numbers in the first half of the year," Rajan …

India is \"dangerously close\" to Hindu rate of growth: Raghuram Rajan
1 year, 9 months ago

India is \"dangerously close\" to Hindu rate of growth: Raghuram Rajan

Deccan Chronicle  

New Delhi: Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which …

Decoding India’s population conundrum | In Focus podcast
1 year, 10 months ago

Decoding India’s population conundrum | In Focus podcast

The Hindu  

2023 is set to be a landmark year for India’s population trajectory, as the country is predicted to overtake China to become the world’s most populous nation. The advantages, experts have pointed out, is the demographic dividend - we will have a massive number of young people in the working age group, and a relatively lower number of those needing …

Economic Survey 2022-23 | Economy on stronger wicket than pre-COVID times, to grow 6.5% in 2023-24
1 year, 10 months ago

Economic Survey 2022-23 | Economy on stronger wicket than pre-COVID times, to grow 6.5% in 2023-24

The Hindu  

Painting an exuberant picture of the Indian economy’s prospects thanks to “New Age” reforms undertaken since 2014, the Economic Survey tabled by Finance Minister Nirmala Sitharaman in Parliament on Tuesday asserted that not only are the pandemic-induced blues over, but the outlook for the years ahead is also rosier than in the pre-COVID years. Though global uncertainties are rife and …

\'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 …

’Next year to be more..: Raghuram Rajan speaks to Rahul Gandhi on Indian economy
2 years ago

’Next year to be more..: Raghuram Rajan speaks to Rahul Gandhi on Indian economy

Live Mint  

Former RBI governor Raghuram Rajan who joined Rahul Gandhi's Bharat Jodo Yatra on Wednesday has said that the next year will be difficult for the Indian economy as also for the rest of the world. Indian interest rates have also gone up but Indian exports have been slowing quiet a bit.” He further added, “India's inflation problem is more a …

India will become $40 trillion economy by 2047, says Mukesh Ambani; spells out 3 big mantras
2 years, 1 month ago

India will become $40 trillion economy by 2047, says Mukesh Ambani; spells out 3 big mantras

Firstpost  

During his virtual address at the 10th Convocation of Pandit Deendayal Energy University, Mukesh Ambani stressed that concerns over climate change must be addressed as India strives to achieve economic progress Gandhinagar : Asserting that India will become a $40 trillion economy by 2047, Reliance Industries Chairman Mukesh Ambani said that three revolutionary shifts - Clean energy, bio-energy, and the …

The Indian Economy In 2022 And What We Can Look Forward To In 2023 - News18
2 years, 1 month ago

The Indian Economy In 2022 And What We Can Look Forward To In 2023 - News18

News 18  

Opinion | The Indian Economy In 2022 And What We Can Look Forward To In 2023 Curated By : Last Updated: December 31, 2022, 10:30 IST India is simultaneously moving on all fronts. That the Indian economy is not overburdened with debt, particularly external debt, puts it in a good position to realise its ambitions in 2023 and beyond The …

Raghuram Rajan’s latest rant about how world can’t afford India becoming a manufacturing hub like China: Half-baked stats and political humbug
2 years, 2 months ago

Raghuram Rajan’s latest rant about how world can’t afford India becoming a manufacturing hub like China: Half-baked stats and political humbug

Op India  

India is blessed with lots of Nobel laureates, economic experts and academic geniuses that mostly reside abroad and that too mostly in the Anglo-Saxon world. Now RR has come out with yet another bizarre speech – this time he says “world cannot afford India to become another manufacturing powerhouse like China”. To pander to this lobby, and hope to use …

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 …

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 …

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, …

Asian Development Bank pares India growth hopes to 7.2% for 2022-23
2 years, 5 months ago

Asian Development Bank pares India growth hopes to 7.2% for 2022-23

The Hindu  

The Asian Development Bank has lowered its growth forecast for India to 7.2% for 2022-23 from a 7.5% projection made in April, citing higher than anticipated inflation since April along with monetary policy tightening. In a supplement to its Asian Development Outlook report, the Bank on July 21 also moderated its growth hopes for 2023-24 to 7.8% from 8% and …

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 …

India’s true growth trajectory will be revealed next year
3 years ago

India’s true growth trajectory will be revealed next year

Live Mint  

The covid-19 pandemic dealt a severe blow to the Indian economy. Bright Spots Despite the uncertainties regarding the future course of the pandemic, the International Monetary Fund sees favourable short-term growth prospects for India. In a similar vein, the World Bank, in its Global Economic Prospects report published in June 2021, projected India’s economy to grow at 8.3% and 7.5% …

India Projected to Grow at 10.1% in 2022 but Outlook for 2021 Highly Fragile: UN
3 years, 7 months ago

India Projected to Grow at 10.1% in 2022 but Outlook for 2021 Highly Fragile: UN

News 18  

India is forecast to grow at 10.1 per cent in 2022, becoming the fastest growing major economy in the world, the United Nations said on Tuesday, but cautioned that the growth outlook of 2021 was “highly fragile” as the country was the “new hotbed of the pandemic.” The United Nations, in its mid-year update of the World Economic Situation and …

India will be second-largest economy by 2050: Gautam Adani debunks GDP rhetoric
4 years, 2 months ago

India will be second-largest economy by 2050: Gautam Adani debunks GDP rhetoric

India TV News  

Billionaire Gautam Adani has debunked the narrow fixation on GDP numbers, saying fundamentals are intact and India will be the second-largest economy by 2050 and has an edge over global peers in terms of business opportunities. "I will state without any hesitation – that – in my view - over the next three decades, India is the world's greatest business …

India needs to create 90 million jobs by 2030 to avoid economic stagnation
4 years, 3 months ago

India needs to create 90 million jobs by 2030 to avoid economic stagnation

Deccan Chronicle  

Chennai: India’s GDP would have to grow by 8 to 8.5 per cent annually and the country would have to create jobs for 90 million workers by 2030. Over the decade to 2030, 60 million new workers are likely to enter the workforce as per current demographic trends, and an additional 30 million workers could move from farm work to …

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