For India to assume the position of a developed nation by 2047, it has to become a $30 trillion economy, meaning an average per capita income of $18,000 per annum, according to a report by NITI Aayog.
The present GDP of $3.36 trillion will need to increase nine times, and per capita income from the existing $2,392 per annum eight times, if that were to happen, according to 'Vision for Viksit Bharat @ 2047, An Approach Paper'.
"The 21st century has the potential to be India's century, as the nation advances confidently into the future. Currently, India is the 5th largest economy globally and is projected to become the 3rd largest by 2027, with a GDP surpassing $5 trillion," the document stated.
By 2047, India wants to have USD 30 trillion GDP, Viksit Bharat, and a standard of living equal to that of the industrialized countries of the world.
This also underlines just how much on the path of self-transformation India has traveled today, and how prepared it is now toward that much-needed quantum leap.
"We have shown the capability to make a substantial leap, similar to other nations that have seized critical moments in their histories," the NITI Aayog noted.
The vision for Viksit Bharat @2047 comprises specific objectives, a strategic plan, guiding principles to achieve these goals, and actionable steps across various themes to implement the strategy effectively, it explained.
"Together, these elements form the vision for Viksit Bharat@2047," it concluded.
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