Hindustan Times | Developed country ambitions need deep structural reforms

India’s impressive growth performance has raised hopes of it becoming a developed country in the not-too-distant future. The Prime Minister has set 2047, the centenary year of Independence, as the aspirational target year. However, leapfrogging from being a low middle-income economy to becoming a developed country in the next 25 years requires raising the country’s per capita income by more than five times, from $2,600 to $10,205. This effectively translates into a per capita income growth at 7.5% per year and an aggregate Gross Domestic Product (GDP) growth at 9%. Read the full article here.

Deccan Herald | Time for Structural Reforms

The World Economic Outlook brought out by the IMF in April did not project an optimistic economic scenario for the global economy. The world economy is estimated to grow at 3.2 per cent in 2024 and 2025, which is the same rate as it was in 2023. Read the full article here.