But in terms of per capita income, India’s rank according to IMF is 142 out of 197 countries. The immediate focus of policymakers must be to raise the growth rate of the economy. This will take a minimum five years of sustained growth of 9 per cent. Even then, at the end of it, India’s per capita income will be only $3472 and we will still be classified as a lower middle income country, he noted. Post Covid-19 and post the Russia-Ukraine war, there is a need to lay down a clear roadmap for India’s future development.

Source: Daily Nation December 26, 2022 02:10 UTC