India To Get upper middle-income country Tag: Estimates!

For a very long time, India has had the tag of a developing country. However, that did not stop India from increasing its economic size. Recently the Indian economy surpassed the United Kingdom and emerged as the fifth largest economy in the world. From the 11th biggest Indian economy became the 5th largest.

The current Central government often talks about making the Indian economy a 5 trillion one. The government is announcing programs that aim at making the Indian economy USD 5 trillion. We have seen Prime Minister Narendra Modi also talking about the estimation and making the economy a 5 trillion one in the next five years.

Now a sensational prediction has come out which says that India would get the tag of Upper Middle Income country in seven years from now. By 2031, India would emerge as an upper-middle-income country. The rise in the GDP will help India get the new tag, according to the prediction. In the current Financial year, India would see a big jump in the GDP.

As per the predictions of Crisil India would emerge as the upper middle-income country by 2031. This decade will be a good time for India as far as growth is concerned as there will be steady growth.

It is known that the average income in the country determines its position and with the same India would become the upper middle-income country.

India would be on the path of growth in the next few financial years and would become a 7 trillion one. Not just that India would become the 3rd biggest one in the world and the upper middle-income country.

The per-capita Income is the parameter to determine the status of the nation. The per-capita income of $1,000-4,000 says they are lower-middle income countries and the per-capita income between $4,000-12,000 says they are upper-middle income countries. If the per-capita income is above $12,000 then they are called developed countries.