Dr Bibek Debroy, Chairman, Economic Advisory Council to Prime Minister Narendra Modi, projects that India will grow comfortably at a real rate of 7.5% to pass through the upper-income category and approach the high-income status by 2047. Dr C Rangarajan, former Chairman, Economic Advisory Council to Prime Minister, calculates that India would need to grow at a real rate of 6.18-6.74% to achieve the status of a higher-income country by 2047. Both economists arrive at similar numbers though they take different starting figures and currencies to project their calculations in their papers on macro-economic essentials.
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