Being 5th largest economy 'impressive,' but per capita income must rise: Ex-RBI governor

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While India becoming the fifth largest economy in the world is an 'impressive achievement,' there is a need to grow fast to increase the per capita income of the country from the present levels, former Reserve Bank of India governor C Rangarajan said on Saturday.

Rangarajan said post Covid-19 and the Russia-Ukraine war, there is a need to lay down a clear roadmap for India's future development and the first and foremost task is to raise the growth rate.

In 2020, India's rank with respect to per capita income was 142 out of 197 countries.

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Author / Journalist: PTI

Category: EconomyBusiness

Markets: IndiaUkraine

Topics: Income Economy Per capita Business news Governor RBI

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-09-16 @ 15:33:39 (7 months ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 438 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 14591022

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