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.
External Affairs Minister S Jaishankar on Tuesday chaired an all-party meeting in Parliament and
On the occasion of World Water Day, the United Nations (UN) released a report. In this report rel
Uttar Pradesh Police has banned the entry of heavy vehicles coming from Bihar from Monday evening
Prime Minister Narendra Modi will interact with the beneficiaries of 'Vikas Bharat Sankalp Yatra'
Ranveer Allahbadia is a big name in the world of YouTube. He is also known as BeerBiceps. Ranveer
Pakistan: I have no hope about general elections in Pakistan: Imran Khan
Reacting to rumors of setting up a technocratic government, Pakistan Tehreek-e-Insaf (PTI) chief
Mahayuti got a great victory in the Maharashtra assembly elections. However, even after more than
Most of the petrol pumps in Pakistan's Punjab region have run out of petrol, throwing people's da
There is no sign of an end to the war between Russia and Ukraine. It is now reported that Russia
A heated debate has erupted between Bollywood actor Harshvardhan Rane and his Sanam Teri Kasam co
