Need far-reaching reforms for India to be developed nation

Since 1990, 34 middle-income economies covering only around 250 million people have managed to shift to high-income status

In his Independence Day speech, our Prime Minister Narendra Modi called for suggestions on how India can become a developed nation by 2047. While there would be enough responses from a cross section of people and institutions in India to help the government formulate necessary policies, It would be worthwhile to consider the recommendations of the latest World Development Report 2024 (WDR) on what the developing countries need to do to become developed economies.
 

The WDR, prepared by economists at World Bank and released in the beginning of this month, says that developing countries must avoid stagnation