India to become $10 trillion economy by 2032 with zero poverty level

SIXTEEN years from now, India will become a $10 trillion economy, generate 175 million jobs and reduce the number of people below the poverty line (BPL) to zero per cent, according to the Niti Ayog.

“Growing at 10 per cent will transform India,” Amitabh Kant, the CEO of Niti Ayog told a gathering presided over by Prime Minister Narendra Modi and a large number of civil servants. “India will be a $10 trillion economy with no poverty in 2032.”

Presenting a paper, ‘Creating a movement for change,’ Kant said that if the Indian economy grew by 7 per cent annually from now till 2032, the country’s GDP would add up $6 trillion and about 115 million new jobs would have been created. But the percentage of people in the BPL category would still be between five and six per cent.

However, raising the GDP growth rate to 10 per cent would transform the economy into a $10 trillion one, with zero percentage of people in the BPL segment and 175 million new jobs having been created.

Kant’s presentation related to the status of implementation of reports of eight groups of secretaries formed by the government. “These eight groups had officers from different ministries,” noted Kant. “Further, there were 16 groups of joint secretaries who simultaneously worked on their focus areas. We cut across silos so that we can act on the eight themes and act as agent of change.”