The NITI Aayog is working on a 25-year vision to make India a $30 trillion economy by 2047. Other goals include nearly $9 trillion in exports and better access to education.
A number of hurdles will have to be overcome to meet these ambitious targets. One of the challenges will be to maintain growth at 9 per cent, required to reach $30 trillion over a 25-year period.
However, India has done it before. Gross domestic product (GDP) at current prices in US dollar terms grew at over 9 per cent in the 25 years after liberalisation. This was on the back of