Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister, said on Wednesday that India's gross domestic product (GDP) would touch $20,000 by 2047. With this, the per capita income of the country can reach $ 10,000 (at the current value of dollars).
Debroy was addressing the inaugural session of the 57th Annual Conference of the Indian Econometric Society (TIES) held at the University of Hyderabad (UoH) digitally. During this, he said that even though the Kovid-19 pandemic has passed, there is a lot of uncertainty around the world due to the return of Kovid in China, the Russia-Ukraine conflict, and developments in Europe and America.
Debroy was quoted in an official release as saying, "At today's value of US currency, India's per capita income will be $10,000 by the year 2047. The average size of GDP would be $20 trillion. That means India will be a changed society.
He said that necessities have been provided to the people including in rural areas. Economic indicators have improved post-COVID in India. Everyone now wants to see the growth rate in 2023-24 and the growth of the economy till 2047.
Debroy said that the country may see volatility in the foreign exchange market and capital market due to global uncertainty due to things like the Russia-Ukraine war, and prospects of economic growth in Europe and America.
He said, “India is not isolated from them. In such a situation, we will also have to face instability. Fluctuations in the foreign exchange market, capital markets, and exchange rates will be encountered. Inflation will also be affected by these uncertainties.” Debroy said India needed a simplified Goods and Services Tax (GST) and direct taxes. These are the areas on which everyone should think.
PM on Eid: 'Let unity prevail...', PM Modi gave a special message on Eid Milad-un-Nabi
Prime Minister Narendra Modi has greeted the countrymen by giving a special message on Eid Milad-
Former Indian cricket team captain MS Dhoni has created a stir on the internet with a cryptic mes
The US Justice Department claimed in a New York court that veteran businessman Gautam Adani and o
International Yoga Day 2024: PM Modi did yoga with the people of Kashmir at the Sher-e-Kashmir In
The person who fired at Salman Khan's house did not get bail. The special court rejected the plea.
Fans are very crazy about Salman Khan. Bhaijaan's fans pray for the actor's safety every moment.
Amid the ongoing tension with Pakistan, a mock drill will be held on Saturday in the border state
Tributes were paid to Dr. BR Ambedkar on the occasion of the 69th Mahaparinirvana Diwas at the Pa
Given the tight monetary stance of various central banks, it appears that the weakness in global
Delhi Capitals spinner Akshar Patel believes that the introduction of the Impact Player rule in t
Many cases of slow overrate are coming to the fore in IPL 2025. In the latest case, Rajasthan Roy
