भारत की अर्थव्यवस्था: छह चार्ट में अच्छी, बुरी और बदसूरत

India's economy: The good, bad and ugly in six charts

In January, despite the cold, thousands gathered at Delhi's Red Fort to listen to Prime Minister Narendra Modi's address. His focal point was "Viksit Bharat 2047," a vision to transform India into a developed nation by 2047. This ambitious goal represents the latest in a series of catchy slogans from a leader known for his marketing prowess.

The concept of a "Developed India" may seem vague, yet over the past decade since Modi's ascension to power, he has diligently worked on laying the groundwork for an economic resurgence. When Modi assumed office, India was grappling with a faltering economy and waning investor confidence. The collapse of several major Indian conglomerates had left banks burdened with massive unpaid debts, hampering their lending capabilities.

Fast forward ten years and India's economic landscape has undergone a significant transformation. The country's growth trajectory now outpaces many other major economies. Strengthened banking institutions stand as a testament to Modi's administration's efforts, demonstrating resilience even in the face of the challenging COVID-19 pandemic. Despite the global economic downturn, India has managed to maintain stable government finances.

Last year, India's economic prowess was underscored when it surpassed the UK to become the world's fifth-largest economy. Analysts at Morgan Stanley predict a continued upward trajectory, projecting India to overtake Japan and Germany to claim the third position by 2027.

Modi's tenure has seen a concerted push for structural reforms and initiatives aimed at fostering growth across various sectors. From "Make in India" to "Digital India," the government has rolled out numerous campaigns to bolster manufacturing, promote innovation, and enhance digital infrastructure.

While progress has been made, challenges persist. India grapples with issues such as income inequality, unemployment, and an agrarian crisis. The road to a developed nation status by 2047 is fraught with obstacles, requiring sustained efforts in addressing systemic issues and fostering inclusive growth.

In essence, Modi's vision for a developed India by 2047 encapsulates the aspirations of millions, but its realization hinges on continued dedication to economic reform, investment in human capital, and inclusive policies that uplift every stratum of society

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