CURRENT AFFAIRS : BANKING & FINANCE
India needs average annual 7.6% GDP growth to make it as a developed nation by 2047 – RBI
- According to an article in the Reserve Bank of India’s (RBI’s) latest monthly bulletin, India’s real Gross Domestic Product (GDP) needs to grow at 7.6% per annum over the next 25 years for it to become a developed country by 2047-48.
- India’s per capita income is currently estimated at $2,500, while it must be more than $21,664 by 2047, as per World Bank standards, to be classified as a high-income country.
