India must sustain an annual growth rate of 7.5 per cent to 8 per cent over the next two decades to achieve its goal of becoming a developed nation, said Surjit Bhalla, economist and former executive director for India at the International Monetary Fund (IMF).
"You do that, you will reach developed country status," Bhalla noted at an event organised by Outlook Business, emphasising the importance of long-term economic expansion. However, he cautioned that a lower growth trajectory of 6 per cent to 6.5 per cent would be insufficient to meet the aspirations of millions of young Indians.
“If you don’t achieve that pace, you are not going to achieve Viksit Bharat. You are not going to be able to satisfy the dreams and aspirations of young Indians who are actively contributing to the country’s development,” he added.
Read more: https://www.outlookbusiness.com/news/india-needs-758-growth-for-viksit-bharat-goal-says-surjit-bhalla
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