‘India may remain poor despite being 3rd largest economy’

Subbarao also recalled that the Prime Minister said that India must become a developed country by 2047.

BySouth First Desk

Published Apr 16, 2024 | 5:49 PMUpdatedApr 16, 2024 | 5:49 PM

Former RBI governor D Subbarao. (X)

Even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be a poor country and there is no reason for celebration, former RBI D Subbarao said in Hyderabad on Monday. Citing Saudi Arabia’s case, he said becoming a rich country does not necessarily mean becoming a developed nation.

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