December 17, 2023 10:30 am | Updated 12:37 pm IST - HyderabadFormer Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the potential growth rate remains at 6% annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then. "India's growth potential is today about 6% a year, GDP growth. Today, the per capita income in India, as you know, is just a little below $2,500 per person. The former RBI chief said some southern states are growing with regards to population at below reproduction rate, in other words, the fertility rate has fallen below reproduction rate thus slowing the growth. Mr. Rajan said some of the developed nations moved from manufacturing to services as part of moving up the value chain after they became richer.

Source: The Hindu December 17, 2023 17:34 UTC