Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council, has projected that by 2047, India will also be included in the high human development category. EAC PM Chairman Bibek Debroy.
New Delhi: The size of the Indian economy will reach $ 20,000 billion (20 trillion dollars) by 2047, provided that the average annual growth in the next 25 years is 7-7.5 percent.
Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council (EAC-PM), expressed this estimate on Tuesday.
Releasing the ‘Draft Competitiveness @ 100 for India’, Debroy said that if the country grows at an average economic growth rate of 7-7.5 percent over the next 25 years, the country’s annual per capita income will be more than US$ 10,000.
He said that by 2047, India will also join the countries of high human development category.
Let us tell you, at present, India is the sixth largest economy in the world with a Gross Domestic Product (GDP) of 2700 billion US dollars. The country is currently classified as a developing nation.
Prime Minister Narendra Modi has set an ambitious target of making India a developed nation by 2047.