India aims to become a developed, high-income nation by 2047, a vision known as 'Viksit Bharat'. A recent World Bank report assesses India's economic trajectory and the reforms needed to reach this goal. The report emphasizes that achieving this ambitious target requires significant and sustained economic growth. - The World Bank indicates that India must achieve an average annual growth rate of 7.8% to reach high-income status by 2047. - The report highlights the necessity of accelerated reforms in the financial sector, land, and labor markets to facilitate the required growth. - Lowering tariffs and addressing barriers to trade and foreign direct investment (FDI) are crucial for driving economic expansion. - Arvind Panagariya suggests a 7.3% annual per-capita income growth is needed, emphasizing job creation and financial liberalization.