India's Blueprint for a Developed Nation by 2047

India aims to achieve developed nation status by 2047, requiring an 8% GDP growth over two decades. The Economic Survey highlights reforms in land, labour, and emerging technologies. Critical targets include increasing investment rates, creating non-farm jobs, achieving full literacy, and improving infrastructure.

The Economic Survey on Friday emphasized that India needs to maintain an 8% GDP growth rate over the next two decades to transform into a developed nation by 2047. This ambitious target calls for substantial reforms across sectors, including land and labour.

The survey suggests boosting the investment rate from the current 31% to 35% of GDP. It also urges advancements in the manufacturing sector and investments in AI, robotics, and biotechnology, aiming to create 78.5 lakh new non-farm jobs annually by 2030-32.

Increased literacy, improved educational institutions, and high-quality infrastructure are essential. The survey stresses systematic deregulation, particularly for small and medium enterprises, and advocates for state-led initiatives to enhance the Ease of Doing Business.

(With inputs from agencies.)