Kumar: India Will Miss $14,000 Per Capita Developed Goal by 2047
Prof. Arun Kumar · Why Is No One Talking About India's Unorganised Sector? Economist Arun Kumar Explains | Neon Show · Sep 7, 2024 · at 11:36
Economist Professor Arun Kumar analyzes India's long-term 2047 developed nation targets and the required sustained growth rates.
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“Similarly, if by 2047, we have to become a developed economy, we have reached 14,000 dollars per capita. From where we are, that would require 11 and a half percent rate of growth for the next 25 years. Now, hardly any economy has achieved over 25 years, 11 and a half percent rate of growth. So we are also unlikely to do that. So we may reach, you know, maybe 9000 dollars per capita, something like that, but we're not likely to achieve 14,000 dollars per capita.”
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