17
Wednesday
January 2018
8:36 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
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.


Bitcoin, other cryptocurrencies tumble on government crackdown worries
Sensex, Nifty extend gains to hit fresh highs
Passport may no longer serve as address proof
Rupee extends losses against US dollar in late morning trade
Stocks scale fresh record high as Coal India spurts
Sensex at new high on fund inflows; Nifty above 10,600
CBDT relaxes norms for MAT on firms facing insolvency
Indian ports set to double their profit: Gadkari
Sensex, Nifty hit new record high on fund inflows
Gold strengthens on sustained demand, silver recovers
Govt extends compulsory jute packaging for foodgrains, sugar
Sensex succumbs to late sell-off; auto, IT slip
Anti-dumping duty likely on Chinese chemical imports
Rs 39 lakh cr needed for infra in urban areas until 2032: Puri
Sensex trade flat, marginally up 9 points in late morning
Sensex advances 30 points; rupee gains 15 paise vs USD
Mukesh Ambani’s Reliance Jio to acquire mobile business assets of Anil Ambani’s RCom
Mercedes-Benz to launch new Maybach S 650 at Auto Expo 2018
Sensex stays flat, investors cautious on F&O expiry
RBI sets rupee reference rate at 64.1577 against US dollar
KERALA NEWS
A new political party announced in State
 (Thiruvananthapuram, Jan 16, 2018): A new political party aimed at bringing together all comm  
Murder accused ends life one day before trial
Private bus strike from February 1
Mani C Kappan apologizes for comments against Uzhavoor Vijayan
INTERNATIONAL NEWS
Japan broadcaster mistakenly flashes missile alert
 (Tokyo, Jan 16, 2018):Japan's public broadcaster today mistakenly flashed that North Korea ap
North Korea calls Trump nuclear button boast the 'bark of a rabid dog'
Rocket lands in Indian Embassy premises in Kabul, no casualties: MEA
I am not a 'racist', says Trump
NATIONAL NEWS
CJI met four senior-most judges of SC: sources
 (New Delhi, Jan 16, 2018): In a bid to resolve their differences, Chief Justice of India Dipa
Attack on couples by khap panchayat illegal: SC
Absolutely no crisis now in SC, says Bar Council of India
Senior BJP leader N S Pharande passes away
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.