India can become a $55 tn economy by 2047 with 8% growth: IMF exec director

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India can become a $55 tn economy by 2047 with 8% growth: IMF exec director - Business Standard

Quick Summary:

Beyond physical infrastructure, he asserted that India needs to invest in enhancing human capital, healthcare, and digital infrastructure, which are essential responsibilities of the government.

Emphasising the importance of wisely using government borrowings, he noted that investments should focus on creating assets rather than merely funding subsidies or operational expenses.

However, he highlighted the remarkable progress being made in financial inclusion through initiatives like the "Pradhan Mantri Jan-Dhan Yojana"."So in other words...