India Will Reach $30 Tn GDP Mark By 2050: Atanu Chakraborty
If this rate of growth continues for a few years, India will have a USD 30-trillion economy with a USD 21,000 per capita income by 2045–50, he said
India is predicted to reach a USD 30-trillion GDP by 2050, said former economic affairs secretary and current chairman of HDFC Bank Atanu Chakraborty.
According to estimates from international financial institutions, India’s growth would be approximately 6.3 per cent this year, and inflation will be about 6 per cent, meaning that nominal GDP will be between 10 per cent and 12 per cent, he stated.
If this rate of growth continues for a few years, India will have a USD 30-trillion economy with a USD 21,000 per capita income by 2045–50, he was quoted by PTI.
The International Monetary Fund (IMF) cut its prognosis for global growth on Tuesday, but it slightly increased India’s GDP outlook to 6.3 per cent.
IMF predicted India’s GDP to grow by 6.1 per cent between 2023 and 2024 in July. This, however, is less than the RBI’s most recent prediction of 6.5 per cent for the current fiscal year.
Due to sustained service sector development, despite global headwinds, the World Bank this week kept India’s growth prediction for the current fiscal year at 6.3 per cent.
In India, which makes up the majority of South Asia, growth is anticipated to remain strong at 6.3 per cent in 2023–2024, according to the World Bank’s India Development Update.
The World Bank also predicted a 6.3 per cent GDP growth in its report from April. In 2022–2023, India experienced growth of 7.2 per cent.