Key Points
In a recent podcast on YouTuber Akash Banerjee's channel, former RBI Governor Raghuram Rajan addressed the contrasting realities within the Indian economy..
According to Rajan, while certain regions, such as Noida or Gurgaon, mirror a "first-world" economy, others lag behind, comparable to conditions seen in third-world or sub-Saharan African nations...
"Parts of the Indian economy are first world," Rajan asserted, emphasizing that a significant challenge lies in bridging the gap and ensuring a uniform economic landscape across the nation by 2047..
This observation comes amid Minister of State for Finance Pankaj Chaudhary's recent statement, envisioning India as a $5 trillion economy on its way to becoming an advanced economy by 2047, during the 'Amrit Kaal.'..
Acknowledging India's current GDP standing at $3.7 trillion as of the fiscal year 2022-23, Rajan expressed skepticism about achieving the $10,000 per capita mark by 2047..
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