{"id":244859,"date":"2023-05-27T20:24:01","date_gmt":"2023-05-27T14:54:01","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=244859"},"modified":"2023-05-27T20:24:01","modified_gmt":"2023-05-27T14:54:01","slug":"india-as-developed-country-by-2047-attainable-goal-or-chimera","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-as-developed-country-by-2047-attainable-goal-or-chimera\/","title":{"rendered":"India as ‘developed country’ by 2047: Attainable goal, or chimera?"},"content":{"rendered":"\n

Source-<\/strong> The post is based on the article \u201cIndia as ‘developed country’ by 2047: Attainable goal, or chimera?\u201d published in the \u201cBusiness Standard\u201d on 27th May 2023.<\/p>\n

Syllabus: <\/strong>GS3- Growth and development<\/p>\n

Relevance- <\/strong>Development prospects of India<\/p>\n

News<\/strong>– The Narendra Modi government has set before the country the goal of attaining \u201cdeveloped country\u201d status by 2047.<\/p>\n

What are prospects for India to achieve the status of developed country by 2047?<\/strong><\/h2>\n

Various development indicators<\/strong> exist. These are income level, health and education standards, quality of life, availability of work, levels of poverty and inequality, technological attainments. <\/strong><\/p>\n

India is well short of the required levels on such indicators. So the goal set for the next quarter-century is ambitious.<\/p>\n

The per capita income<\/strong> of the country should grow more than five-fold in 24 years. It calls for annual growth of 7%. Indeed, very few countries have sustained such rapid growth for a long stretch. On a realistic assessment<\/strong>, India will not be \u201chigh-income\u201d in 2047. <\/strong><\/p>\n

Getting to the \u201cvery high\u201d human development<\/strong> category could be easier. The pace at which the country has improved its score on the human development index over the last quarter-century is impressive.<\/p>\n

Sustaining that rate should help India improve its index score from the current 0.633 to the \u201cvery high\u201d category threshold<\/strong> of 0.800 by 2047.<\/p>\n

Another indicator is the share of hi-tech items<\/strong> in a country\u2019s exports of manufactured goods. <\/strong>India has a 10% share, about the same level as Brazil and Russia. The global average is 20% and China\u2019s figure is 30%.<\/p>\n

In terms of research output<\/strong>, India\u2019s total has been growing rapidly. It now ranks fourth in quantity. But it is only ninth in terms of the number of citations<\/strong> of such research.<\/p>\n

China\u2019s citation<\/strong> level is five times higher. Much efforts are needed to achieve the level of developed-country average on such indicators.<\/p>\n

For tracking poverty numbers<\/strong> in an aspirational India, the \u201cextreme poverty\u201d benchmark<\/strong> of $2.15 per day was applied when India was a low-income country.<\/strong> It is not appropriate for the lower-middle income country <\/strong>that India has become.<\/p>\n

The benchmark for such countries is $3.65 per head per da<\/strong>y. By that measure, hundreds of millions are poor today. The benchmark for upper-middle income countries<\/strong>, when India gets there, would be even higher, at $6.85 per day. <\/strong><\/p>\n

Would it be a unique thing if India achieves the status of developed country by 2047?<\/strong><\/h2>\n

India would be far from unique if it did achieve \u201cdeveloped country\u201d status by 2047<\/strong>. More than 80 countries are already classified by the World Bank as being high-income, whereas India is still lower-middle income. <\/strong><\/p>\n

More than 65 countries are ranked by the UN Development Programme<\/strong> as having attained \u201cvery high\u201d levels of human developmen<\/strong>t. India is still in the \u201cmedium\u201d category. <\/strong><\/p>\n

The country also remains some distance away from eliminating multidimensional poverty.<\/strong> If it got there in 2047, India would be very much a late-comer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source- The post is based on the article \u201cIndia as ‘developed country’ by 2047: Attainable goal, or chimera?\u201d published in the \u201cBusiness Standard\u201d on 27th May 2023. Syllabus: GS3- Growth and development Relevance- Development prospects of India News– The Narendra Modi government has set before the country the goal of attaining \u201cdeveloped country\u201d status by… Continue reading India as ‘developed country’ by 2047: Attainable goal, or chimera?<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[10503,216],"class_list":["post-244859","post","type-post","status-publish","format-standard","hentry","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/244859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=244859"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/244859\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=244859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=244859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=244859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}