What growth rate does India need to achieve by 2047 to become a high-income country according to the World Bank
Explore the World Bank's projection that India must maintain an average growth rate of 7.8% to achieve high-income status by 2047.
To become a high-income country by 2047, India would need to maintain an average growth rate of 7.8% according to the World Bank. Here are some key points to consider:
- High-income status is defined by the World Bank as a gross national income (GNI) per capita of $12,536 or more.
- India's current growth rate is around 4-5%, so achieving a 7.8% growth rate would require significant policy reforms and investment in key sectors.
- Key areas that could drive higher growth include infrastructure development, education, healthcare, and technology innovation.
- Achieving high-income status would also require addressing challenges like income inequality, job creation, and sustainable development.
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2 months ago