Home >News >India >India will be third largest economy by 2047: NITI chief

Indian economy will bounce back in next few quarters from the effects of covid-19 disruptions and it will grow by average 7-8% in next 20-30 years and become the third-largest economy by 2047, Rajiv Kumar Vice-Chairman, NITI Aayog said on Monday.

He was speaking at a webinar organised by the Department of Science and Technology (DST).

Also read: Why farm politics doesn't win elections in India

Kumar said that Indian economy will be among the top economies in the world in the next few years using science, technology, and innovation in all sectors, bouncing back soon from the after effects of covid- 19.

He said that steps and reforms have been taken by the government in all the sectors, like agriculture, modern medicine, traditional medicine, new education policy, Small & Medium Enterprises, labour sector and so on, to target being among the world’s top three economies, said Kumar.

He said that the economy post-covid-19 has been in the recovery mode after the first quarter.

Kumar also said that the pandemic has changed many things and shown new ways of doing things and many of these are going to stay in the post- covid-19 world, and we need to have an innovative economic system in the post- covid-19 world to remain floating.

Meanwhile the number of covid-19 cases is increasing continuously. India’s tally of cases climbed to 96,87,385 on Monday with death count mounted to 1,41,711.

India’s total Active Caseload fell to 3,96,729 on Monday. This number translates to 4.1% of total cases. This is the lowest after 140 days.

At least 32,981 new positive cases were found in the country. Over 76.20% of the new cases are from 10 States and UTs. Kerala reported the highest daily new cases at 4,777. This is followed by Maharashtra with 4,757 new cases. West Bengal recorded 3,143 new cases, the union health ministry said.

391 cases fatalities have been reported in the past 24 hours. Ten States/UTs account for75.07%of new deaths. Delhi saw the maximum casualties (69). West Bengal and Maharashtra follow with 46 and 40 daily deaths, respectively, the government said.

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