NITI Aayog Vice Chairman Ashok Kumar Lahiri stated in New Delhi that rapid economic reforms and structural changes are essential for India to become a developed nation by 2047. He made these remarks on Friday at the SRCC Centenary Conference.
Speaking on the government's objective, Lahiri emphasized that crucial changes are inevitable for the country to progress on the path of development. He believes these reforms will strengthen the economy.
He cited that Asian countries like China, South Korea, Taiwan, and Japan rapidly increased their per capita income, thereby becoming high-income nations. He suggested that India could examine the growth models of these countries.
Lahiri explained that a country is considered developed only when its gross national per capita income crosses a specific threshold. He urged India to strive towards achieving this goal.
This statement also serves as a guideline for the economic growth of Andhra Pradesh and Telangana. Local governments and businesses should be prepared to benefit from these reforms, thereby contributing to regional development.
