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December 2018
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Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        Rahul tweets pic with Kamal Nath, Scindia as race for CM moves to Bhopal        Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        
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Business News
India likely to be $6.5-7 tn economy by 2030: Debroy
 
ew Delhi, Dec 21 (PTI) India is expected to be a USD 6.5-7 trillion economy by 2030, and at the current exchange rate it would touch USD 10 trillion by 2035-40, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy said today.

The per capita income in India by 2030 will however be just USD 4,000, still less than many other countries, he said.

"In the year 2030, India's national income will be around USD 6.5-7 trillion. If exchange rate remains what it is today then by 2035-40, India will be USD 10 trillion economy.

"And if exchange rate appreciates then India will be USD 10 trillion economy before 2035," Debroy said at Skoch summit here.

India s GDP or gross domestic product is nearly USD 2.5 trillion at present and the country ranks as the sixth largest economy in the world.

Debroy further said that India will be a remarkably different country as the size of its economy will enhance the country's role in global affairs.

He also said that people are not seeking government jobs today, instead more and more people are providing jobs to others.

Talking about the issues related to land, Debroy said it is a contentious issue and it is very inefficiently used in India. "We don't have clear system of land titling."

Chairman of the 15th Finance Commission N K Singh predicted that by 2030, India should be growing at double digit rate.

Singh further said fiscal federalism is deeply ingrained within India's constitutional framework and without that, the country would have faced many challenges.

He said the 15th Finance Commission is the first to be set up after the dismantling of the Planning Commission, which was replaced by the new body Niti Aayog in January, 2015.

"I do believe that Planning Commission had outlived its utility," he added.


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