Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Not by wishful thinking -R Nagaraj    </title>
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-The Hindu

A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up

In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into..."/>
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-The Hindu

A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up

In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into..." />
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                            <div align="justify">-The Hindu<br /><br /><em>A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up<br /></em><br />In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into a $5 trillion economy by 2024. It is now for &lsquo;Team India&rsquo;, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such goals by popularly elected leaders have voiced the aspiration of voters and energised nations to realise their potential.<br /><em><br />How realistic?</em><br /><br />What does the targeted $5 trillion economy mean in familiar economic terms? It is Rs.350,00,000 crore of gross domestic product (GDP) at current prices, at Rs.70 to a U.S. dollar exchange rate. India&rsquo;s (provisional) GDP in 2018-19 at current prices is Rs.190,10,164 crore (or $2.7 trillion), which means the annual per capita income is Rs.1,42,719, or about Rs.11,900 per month.<br /><br />The target implies an output expansion by 84% in five years, or at 13% compound annual growth rate. Assuming an annual price rise of 4%, in line with the Reserve Bank of India&rsquo;s inflation target, the required growth rate in real, or inflation-adjusted, terms is 9% per year. To get a perspective, India officially grew at 7.1% per year over the last five years, but the annual growth rate never touched 9%. Hence, the target seems ambitious. Is it doable?<br /><em><br />How Asia fared</em><br /><br />How does the target compare with the Asian experience? China, with a historically unprecedented growth record in its best five years, during 2003-07, grew at 11.7%; South Korea, between 1983 and 1987, grew at 11%. So, Mr. Modi&rsquo;s target is smaller than the best historical records and may seem realistic.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" class="re" target="_blank">The Hindu, 3 July, 2019, https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true</a><div class="clear"></div>
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                            <div align="justify">-The Hindu<br /><br /><em>A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up<br /></em><br />In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into a $5 trillion economy by 2024. It is now for &lsquo;Team India&rsquo;, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such goals by popularly elected leaders have voiced the aspiration of voters and energised nations to realise their potential.<br /><em><br />How realistic?</em><br /><br />What does the targeted $5 trillion economy mean in familiar economic terms? It is Rs.350,00,000 crore of gross domestic product (GDP) at current prices, at Rs.70 to a U.S. dollar exchange rate. India&rsquo;s (provisional) GDP in 2018-19 at current prices is Rs.190,10,164 crore (or $2.7 trillion), which means the annual per capita income is Rs.1,42,719, or about Rs.11,900 per month.<br /><br />The target implies an output expansion by 84% in five years, or at 13% compound annual growth rate. Assuming an annual price rise of 4%, in line with the Reserve Bank of India&rsquo;s inflation target, the required growth rate in real, or inflation-adjusted, terms is 9% per year. To get a perspective, India officially grew at 7.1% per year over the last five years, but the annual growth rate never touched 9%. Hence, the target seems ambitious. Is it doable?<br /><em><br />How Asia fared</em><br /><br />How does the target compare with the Asian experience? China, with a historically unprecedented growth record in its best five years, during 2003-07, grew at 11.7%; South Korea, between 1983 and 1987, grew at 11%. So, Mr. Modi&rsquo;s target is smaller than the best historical records and may seem realistic.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" class="re" target="_blank">The Hindu, 3 July, 2019, https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true</a><div class="clear"></div>
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A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up

In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into..."/>
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    <h1 class="cat-box-title">Not by wishful thinking -R Nagaraj</h1>
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                            <div align="justify">-The Hindu<br /><br /><em>A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up<br /></em><br />In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target &mdash; to grow India into a $5 trillion economy by 2024. It is now for &lsquo;Team India&rsquo;, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such goals by popularly elected leaders have voiced the aspiration of voters and energised nations to realise their potential.<br /><em><br />How realistic?</em><br /><br />What does the targeted $5 trillion economy mean in familiar economic terms? It is Rs.350,00,000 crore of gross domestic product (GDP) at current prices, at Rs.70 to a U.S. dollar exchange rate. India&rsquo;s (provisional) GDP in 2018-19 at current prices is Rs.190,10,164 crore (or $2.7 trillion), which means the annual per capita income is Rs.1,42,719, or about Rs.11,900 per month.<br /><br />The target implies an output expansion by 84% in five years, or at 13% compound annual growth rate. Assuming an annual price rise of 4%, in line with the Reserve Bank of India&rsquo;s inflation target, the required growth rate in real, or inflation-adjusted, terms is 9% per year. To get a perspective, India officially grew at 7.1% per year over the last five years, but the annual growth rate never touched 9%. Hence, the target seems ambitious. Is it doable?<br /><em><br />How Asia fared</em><br /><br />How does the target compare with the Asian experience? China, with a historically unprecedented growth record in its best five years, during 2003-07, grew at 11.7%; South Korea, between 1983 and 1987, grew at 11%. So, Mr. Modi&rsquo;s target is smaller than the best historical records and may seem realistic.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true" class="re" target="_blank">The Hindu, 3 July, 2019, https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true</a><div class="clear"></div>
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Home हिन्दी

Not by wishful thinking -R Nagaraj

Published on Jul 3, 2019   Modified on Jul 3, 2019

-The Hindu A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target — to grow India into a $5 trillion economy by 2024. It is now for ‘Team India’, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such goals by popularly elected leaders have voiced the aspiration of voters and energised nations to realise their potential. How realistic? What does the targeted $5 trillion economy mean in familiar economic terms? It is Rs.350,00,000 crore of gross domestic product (GDP) at current prices, at Rs.70 to a U.S. dollar exchange rate. India’s (provisional) GDP in 2018-19 at current prices is Rs.190,10,164 crore (or $2.7 trillion), which means the annual per capita income is Rs.1,42,719, or about Rs.11,900 per month. The target implies an output expansion by 84% in five years, or at 13% compound annual growth rate. Assuming an annual price rise of 4%, in line with the Reserve Bank of India’s inflation target, the required growth rate in real, or inflation-adjusted, terms is 9% per year. To get a perspective, India officially grew at 7.1% per year over the last five years, but the annual growth rate never touched 9%. Hence, the target seems ambitious. Is it doable? How Asia fared How does the target compare with the Asian experience? China, with a historically unprecedented growth record in its best five years, during 2003-07, grew at 11.7%; South Korea, between 1983 and 1987, grew at 11%. So, Mr. Modi’s target is smaller than the best historical records and may seem realistic. Please click here to read more.

The Hindu, 3 July, 2019, https://www.thehindu.com/opinion/op-ed/not-by-wishful-thinking/article28264404.ece?homepage=true

Tagged with: GDP GDP estimates GDP growth Economic Growth

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