Is the Indian economy capable of growing by 30% by 2047?

The growing attraction of the Bhartiya (Indian) way of an economic and spiritual model in the coming years will make India the center of attraction for meeting the aspirations and material needs of the world. While India is currently struggling to reach a $5 trillion economy by 2025 due to the COVID and war crisis, once this initial shock is removed, it is projected that the economy will be around 30% by 2047. Will accelerate towards reaching trillion dollars.

Pankaj Jagannath Jayswal
Bharat @100 by Pankaj Jagannath Jayswal (Guest Author)

India’s milestone 100th anniversary will be a major turning point both historically and globally for the next 25 years. During the next 25 years, Narendra Modi wants everyone to work together for the betterment of India and the world.

In terms of happiness, peace, environmental damage, and exploitation of developing nations, the current Western economic model and philosophy have done little to benefit the world. While developed countries have advanced materially in many ways, violence, mental, physical, and social issues have risen, while happiness has declined.

In terms of economics, social issues, and spirituality, India will play a critical role in humanity’s future. The Modi government focuses not only on economic development, but also on social, spiritual, and environmental aspects so that Bharat and the entire world will be able to live in dignity, peace, joy, and belonging.

swami vivekananda 390955 1920

“Every nation has a message to deliver, a mission to fulfill, a destiny to reach. The mission of Bharat has been to guide Humanity.”

—Swami Vivekanand (Indian Hindu monk, philosopher, and author. He is credited with raising interfaith awareness, making Hinduism one of the world’s major religions during the late nineteenth century by introducing Indian darsanas (teachings, practices), like Vedanta and Yoga.

The fact that the economy is gaining traction while the rest of the world is in crisis is entirely due to current government policies and actions. To achieve a 30 trillion-dollar economy by 2047, a different perspective and policies are required to put the country on a higher growth trajectory than China and the United States. The focus on each sector with Aatmanirbhar Bharat (Self-Reliant India) and training youths through New Education Policy to develop as entrepreneurs rather than job seekers with an innovative and research-oriented mindset.

Foreign policy’s one more aspect is to respect and value each nation, rich or poor, for their culture and traditions. Corruption is a major source of concern however only stricter laws and technology-driven work will not significantly reduce corruption; however, the greater the emphasis on developing personal and national character, the less corruption and exploitation will exist. The qualitative implementation of new education policies and spiritual education from an early age will undoubtedly make a difference, and it will undoubtedly be worked out with the continuation of the current regime for the next 25 years.

In the coming years, the rising traction of the Bhartiya (Indian cultural trend) way of economic and spiritual model will make Bharat the center of attraction for meeting the world’s aspirations and material needs. Though we are currently struggling to reach a 5 trillion-dollar economy by 2025 due to the COVID and war crises, once this initial jerk is removed, the economy will accelerate in the direction of reaching around 30 trillion dollars by 2047.

Bharat will monitor, guide, and control global health through its holistic approach to treatment, healthy living, and environmental balancing. Bhartiya will have a strong potential in this area to help their own economy as well as the global economy, with a focus on a healthy and peaceful world.

Village Entrepreneurship Development

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Bharat is made up of villages, and approximately 6 lakh villages will change the fortunes of Bharat in the next 25 years. Policies should prioritize “Village Entrepreneurship Development” while preserving the great culture, traditions, environment, and Bharatiyatva in villages. This will result in a significant reduction in unemployment, drug abuse, unnecessary conflicts, and, most importantly, the “slavery mentality” that has developed over time.

Research and Development

Another critical aspect is to prioritize research and development. “The key to success is incremental innovation.” The new education policy emphasizes research and development as well as the development of personal and national character. Governments and other stakeholders should focus on implementing it judicially, passionately, and to completion over the next 10 to 15 years. Industry should also focus on and promote innovative ideas, as well as provide youth with new skill sets and opportunities in R&D. It will completely change the mindset of youths to focus on their creative and innovative abilities, indigenous development of new technologies, and providing solutions to the world’s problems.

Agriculture sector

woman farmer
Women Farmer

Bharat is known as the “farmer’s nation.” Current policies that encourage the use of best practices and technology to increase output. The agriculture sector in Bharat is expected to generate better momentum in the next few years due to increased investment in agricultural infrastructure such as irrigation facilities, warehousing, and cold storage. We need to create more supportive and encouraging policies that encourage organic farming so that we can become self-sufficient in most of the food while also supporting the majority of the world without exploitation. Organic or non-chemically treated food will help to prevent soil, water, and air pollution, as well as contribute to the development of a healthy society and economically stronger farmers.

Energy Sector

The nation’s electrical energy requirements are enormous; the current government’s emphasis on building additional capacity using renewable energy sources is commendable. India is the third largest producer of renewable electricity in the world. The national electric grid in India has an installed capacity of 403.759 GW as of 30 June 2022. Even though coal-fired power plants pollute the environment, we continue to rely on them for our needs. Focused and effective renewable energy policies must be strengthened so that India can become self-sufficient in terms of total renewable energy by 2047 while also assisting other nations with their electricity needs.

India import a large amount of fossil fuels, which has an impact on its economy because it weakens currency and is a major source of pollution. As a result, the policy of giving weightage to electric vehicles and renewable source of energy will help to build the economy, strengthen the rupee, and reduce pollution.

Health Sector

The health of a nation is determined by the state of its resources. Each work’s efficiency, effectiveness, and quality are determined by one’s health. We’ve been dealing with more serious issues on this front. Quality health services are lacking in large parts of the country, and even when they are available, they are prohibitively expensive for the average citizen. Quality health care at a lower cost is urgently needed to make a difference for the socioeconomically disadvantaged as well as the middle class. The Modi government’s Ayushman Bharat policy is critical, but more policies for holistic practices and treatment, preventive care, and quality services must be implemented over the next 25 years.

Poverty

According to a recent World Bank report, extreme poverty in India has more than halved between 2011 and 2019, falling from 22.5 percent to 10.2 percent. The reduction was greater in rural areas, ranging from 26.3% to 11.6%. When compared to 2011-2015, the rate of poverty declines between 2015 and 2019 was faster. The current government’s emphasis on making life easier for ordinary Indians through schemes such as the Ujjwala Yojana, PM Awas Yojana, Swachh Bharat Mission, Jan Dhan, and Mission Indra Dhanush, as well as the Deendayal Antyodaya Yojana-National Rural Livelihood Mission and expanded coverage under the National Food Security Act. Poverty is a curse for any society or country. Inequality breeds hatred, enmity, unhealthy competition, exploitation, and religious conversion. As a result, the next 25 years will be critical in eradicating poverty. Policies implemented and efforts to provide quality education and various skills will empower them.

Rise of Hindutva (Eternal Law) for Global Good

In the last eight years, the rise of Hindutva has been attributed to many people around the world realizing that Hindu Dharma respects everyone, believes in the philosophy of “Vasudhaiv Kutumbakam,” which means the entire world is my family, and this has been demonstrated on the ground by the current government by assisting during the Corona crisis, war situations, natural disasters, and economic crises. By 2047, many countries around the world will begin to follow Santana or Hindu Dharma principles, and many will practice Hindu Dharma on their own to spread happiness, sharing, and caring, and to put a smile on everyone’s face. The current government’s foreign policies and actions have created a strong bond and respect for Bharat and each Bhartiya, and it will continue to do so. M. S. Golawalkar Guruji stated “Dharma is the universal code of right conduct that awakens the common inner bond, restrains selfishness, keeps the people together in harmonious state without external authority”. He further added, It is devotion to one’s motherland, society and tradition experienced under the concept of nation that inspires the spirit of real service and sacrifice in the individual.

A new Vishwaguru Bharat will emerge, not to exploit other nations or seize land or natural resources, but to strengthen each nation to make the world a better place to live.

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