Latest News :- Finance Minister Nirmala Sitharaman has said that there will be a huge rise in the standard of living of the common man in the coming decade and the per capita income of Indians will double in the next 5 years. Addressing the Kautilya Economic Conference in New Delhi, Minister Nirmala Sitharaman said, “India's economic performance has increased rapidly in the last 10 years. We should see that India, which was the 10th largest economy, has become the 5th largest economy in the last 5 years.

According to IMF estimates, while it will take 75 years for per capita income to reach $2,730, it will take only five years to add $2,000. The standard of living of the common man will rise significantly in the coming decades. This was a defining era of living for an Indian.

India, with a population of 1.4 billion, is striving to double its per capita income in a few years, despite the grim environment of ongoing conflicts and fragmented nations. World peace is the source of prosperity. The income inequality index declined from 0.283 to 0.266 in rural India and from 0.363 to 0.314 in urban India. This shows that economic equality is increasing in India.

India's economic growth will be even better in the coming years due to the economic and structural reforms undertaken over the last ten years and the COVID shock having subsided. For this reason, I am hopeful that the country's economic growth will continue to improve. As India completes 100 years of independence, India will have new characteristics like developed countries. The vision of a developed India is that due to the vibrant exchange of ideas, technology and culture, India will prosper not only for Indians but for the rest of the world. He said.