India to be a developed country by 2047, Economists agree on the roadmap says SKOCH Group
26/05/2023
new delhi, may 25: Dr Bibek Debroy, Chairman, Economic Advisory Council to Prime Minister Narendra Modi, projects that India will grow comfortably at a real rate of 7.5 per cent to pass through the upper-income category and approach the high-income status by 2047.
Dr C Rangarajan, former Chairman, Economic Advisory Council to Prime Minister, calculates that India would need to grow at a real rate of 6.18-6.74 per cent to achieve the status of a higher-income country by 2047.
Both economists arrive at similar numbers though they take different starting figures and currencies to project their calculations in their papers on macro-economic essentials.
Twenty-three renowned economists have detailed their roadmap to India 2047 in the book 'India 2047 - High Income with Equity', put together by Sameer Kochhar, Chairman, SKOCH Group, Reforms Historian and Author of ModiNomics.
Sameer Kochhar says, "It has always been my attempt to grasp the full magnitude of the direction given by the Prime Minister and translate it into an action agenda by garnering the best available expertise in the country to make the 'how' of the idea more widely understood. This becomes a great reference point for policy making and effective implementation."
Prime Minister Modi will likely highlight his vision of the roadmap of Amrit Kaal during the forthcoming meeting of Governing Council of the Niti Aayog on 27th May 2023.
The book is also being released and discussed on the same day at Dr Ambedkar International Center in New Delhi.
"Over the next 25 years, India needs to strengthen its parliament and make systems more resilient. Sameer's book is an apt commentary that suitably covers all aspects of cooperative federalism and provides a lucid prescription of what needs to be done by learning from our past lessons," says Dr Vijay Kelkar, Chairman 13th Finance Commission.
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