Ernst & Young, released a report titled [email protected]: Realizing the potential of a US$26 trillion economy. According to the estimates Indian economy will reach GDP size of US$26 trillion by 2047, the 100th year of the country’s independence. The per capita income is expected to increase to US$15,000, putting the country among the ranks of developed economies.
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Growth Enablers As Per Report
- World’s Information Technology and Services Hub
- Digitalization: A Force Multiplier
- Filing the credit gap to fuel growth
- Thriving entrepreneurship spurred by private capital
- Reaping the demographic dividend
- Making domestic manufacturing competitive
- Building the infrastructure of the future
- Transition to sustainable energy
- Prudent macro-economic management focused on managing and stabilizing inflation and currency, ensuring predictability in policies and proactively de-risking the economy would remain important for India to continually attract domestic and global investors.
- Simultaneously, enhancing ease of doing business, accelerating power sector reforms and energy independence, and enabling quality healthcare and education will not only increase business confidence but also ensure socio-economic development on a sustained basis.
Important takeaways for all competitive exams:
- EY Headquarter:- London, England
- Chairman & CEO – Carmine Di Sibio
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