According to a presentation made by Chief Economic Adviser V Anantha Nageswaran, in 2047, the country’s per capita income is projected to reach Rs 14.9 lakh.
The per capita income is currently Rs 2.12 lakh in 2023-24. In dollar terms, it is at USD 2,500.
In the past decade, the size of the Indian economy has increased from being tenth to the fifth largest in the world, after the US, China, Germany, and Japan. It overtook the UK in 2022.
Currently, India’s GDP is estimated to be around USD 3.6-3.7 trillion. The country’s GDP grew by 8.2% during the financial year 2023-24, following growth rates of 7.2% in 2022-23 and 8.7% in 2021-22.
This consistent strong performance has propelled India to become the fifth-largest economy globally, surpassing the UK in 2022.
The Indian economy is currently estimated to be worth around USD 3.6-3.7 trillion.
