A big and positive news has come out for India’s economy. According to an SBI report, India could become an “Upper Middle Income Country” by 2030, where per capita income is expected to reach around $4,000.
In this video, we explain in simple language what Upper Middle Income Country means, how the World Bank’s income classification works and what major changes have taken place in India’s income journey from 1962 till now. Also, the fast pace of India becoming a $1 trillion to $5 trillion economy, the possibility of becoming the world’s third largest economy by 2028 and the long-term vision of becoming a high income country i.e. “Viksit Bharat” by 2047 have also been discussed in detail.
India towards becoming an upper middle income country. SBI Report Explained | Money Live | India is on its way to becoming an Upper Middle Income Country. SBI Report Explained
