Narasimha Rao, Principal Secretary Amar Nath Verma, and Finance Minister Manmohan Singh, implemented comprehensive economic reforms, spurring a remarkable acceleration in economic growth. While Bharat is not likely to surpass China shortly, Goldman Sachs predicts that Bharat will become the world’s second-largest economy by 2075. Bharat’s economic growth is progressing on various fronts, including physical capital, but human capital development remains crucial. The unemployment rate has been a significant concern, but as companies diversify beyond China, Bharat is well-positioned to seize opportunities. In conclusion, Bharat’s economic growth is undeniable, but it faces challenges, particularly in education and employment.

Source: The Guardian October 20, 2023 13:48 UTC