Key Points
Middle-income countries like India need to make policies based on reliable data to get into the league of high-income nations in next 3-4 decades as achieving sustainable growth will become harder, World Bank chief economist Indermit Gill said on Thursday..
Addressing an event here, Gill said, to grow into higher-income countries, MCIs (Middle Income Countries) will have to reduce deficits in their mid-sized firms...
"(Going forward) economic growth will get harder for middle-income countries like India, not easier....
If you (middle-income countries like India) want to get into high-income country in the next 3-4 decades then you will have to make policies based on reliable information," he said.. Gill pointed out that relatively few countries (31) have grown into high-income countries between 1990 and 2021...
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