### India’s Ambitious Vision for 2047: The Path to 'Viksit Bharat' India is setting its sights on becoming a developed nation by 2047, a goal that requires significant economic growth and reform. According to Arvind Panagariya, achieving this vision necessitates an annual per-capita income growth of **7.3%**, while the World Bank suggests an even more ambitious target of **7.8%** average annual growth over the next 22 years. This growth is essential for India to transition into a high-income economy, emphasizing the need for job creation, financial liberalization, and comprehensive reforms across various sectors [https://economictimes.indiatimes.com/news/economy/policy/viksit-bharat2047-a-realisable-ambition-per-capita-income-needs-to-grow-at-7-3-panagariya/printarticle/118649385.cms, https://www.devdiscourse.com/article/business/3282550-indias-path-to-high-income-status-by-2047-world-bank-report-outlines-key-reforms]. ### Framework for Achieving High-Income Status 1. **Growth Rate Requirements**: - India must achieve an average growth rate of **7.8%** annually to attain high-income status by 2047, as per the World Bank [https://www.bizzbuzz.news/banking/viksit-bharat-needs-78-growth-wb-1353715]. 2. **Reform Necessities**: - The report highlights the need for **accelerated reforms** in financial, land, and labor markets to facilitate this growth [https://www.indianexpress.com/article/business/economy/accelerated-reforms-india-high-income-status-world-bank-report-9861860]. 3. **Investment and Productivity**: - Boosting productivity and unlocking private investment are crucial for sustaining growth [https://www.business-standard.com/economy/news/india-needs-7-8-growth-to-become-high-income-country-says-world-bank-125022800438_1.html]. 4. **Demographic Dividend**: - Leveraging the demographic dividend and ensuring equitable growth across states will be vital for achieving these targets [https://www.economictimes.indiatimes.com/news/economy/indicators/average-7-8-growth-needed-for-developed-nation-tag-by-2047/articleshow/118636811.cms]. ### Supporting Evidence and Data - **Growth Rate Targets**: - **7.3%**: Required per-capita income growth as per Arvind Panagariya [https://economictimes.indiatimes.com/news/economy/policy/viksit-bharat2047-a-realisable-ambition-per-capita-income-needs-to-grow-at-7-3-panagariya/printarticle/118649385.cms]. - **7.8%**: Average annual growth rate needed according to the World Bank [https://www.bloomberg.com/news/articles/2025-02-28/india-needs-7-8-growth-to-become-high-income-world-bank-says]. - **Reform Areas**: - Financial sector reforms, land market adjustments, and labor market improvements are essential for achieving the targeted growth [https://www.thehindu.com/business/Economy/india-needs-to-grow-at-average-78-to-become-high-income-country-by-2047-world-bank/article69274247.ece]. ### Conclusion: A Roadmap to 'Viksit Bharat' by 2047 To realize the vision of a developed India by 2047, the following steps are crucial: 1. **Achieve a consistent growth rate of 7.8%** annually to meet high-income status [https://www.devdiscourse.com/article/business/3281060-indias-path-to-high-income-status-accelerating-reforms-and-growth]. 2. **Implement comprehensive reforms** across financial, labor, and land sectors to facilitate economic expansion [https://www.moneycontrol.com/news/business/economy/india-needs-to-grow-at-7-8-to-be-high-income-nation-by-2047-world-bank-12952898.html]. 3. **Focus on productivity and investment** to ensure sustainable growth and equitable development across all states [https://www.tribuneindia.com/news/business/india-must-grow-7-8-annually-to-achieve-developed-nation-status-by-2047-world-bank]. By adhering to these strategies, India can position itself on a robust path toward becoming a 'Viksit Bharat' by 2047, fulfilling its aspirations for economic prosperity and development.