It will take 20yrs for India to become developed nation: Ex-RBI chief

To be classified as a developed country, the per capita income will have to be at a minimum of $13,205 and that will take more than two decades of strong growth of between 8 to 9% to achieve it, former RBI governor C Rangarajan said. In terms of per capita income, India’s rank according to IMF is 142 out of 197 countries.

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