Prime Minister Modi said in his Independence Day speech that India must become a developed nation by the time we complete 100 years of independence. This means we should transform ourselves in one generation and become a high-income country by 2047. This can be met only through sustained high growth.
A growth rate of 6 percent during the next 25 years will see the economy reach a size of $16.4 trillion by 2047. At 8 percent it will take the economy to $20.6 trillion, and at 10 percent, it will be $32.6 trillion. This is the compounding power of growth.
A 6 percent real growth rate will translate into a per capita income of $10,000 by 2047. At 8 percent, it would be $14,000. At 10 percent, it would touch $22,000 and radically transform the lives of citizens.
この記事は THE WEEK India の October 09, 2022 版に掲載されています。
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