April 17, 2024
05:45
05:45
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India aims for high income status by 2047
India’s a populous and fast-growing economy and it looks like it could eyeing to reach high income status by 2047. As it holds the world’s biggest elections, let’s take a closer look at the country’s economic outlook.
Battered by the pandemic, India’s GDP growth bounced back in the fiscal years of 2021 and 2022 thanks to accommodating monetary and fiscal policies. The next year India’s GDP expanded at an estimated 6.9 percent reaching 3.42 trillion US dollars. According to the World Bank, there are signs of moderation now but overall growth tendency remains strong due to robust domestic demand and investment activities. The current fiscal year’s growth is expected to be 6.3 percent.
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