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India is set to stage the worl

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2024-04-10 13:41:27
India is set to stage the world's largest election next week, with Prime Minister Narendra Modi poised to lead the country for another term. Despite global economic challenges, India is expected to maintain strong economic momentum, with a growth rate of 6.5% in 2024. Modi's government has already outlined ambitious plans for the future, aiming to make India the third-largest economy by 2047. To achieve this ambitious plans, India needs to clock a compounded annual growth of 12% for the next 20 years.To achieve this goal, Modi's government has implemented significant economic reforms, including public investment in connectivity upgrades, transport infrastructure, digitizing the economy, and better welfare packages. The government has also introduced financial sector reforms, such as putting the tax system online to reduce evasion, and relaxing commerce regulations, which have helped attract foreign investment.With significant economic challenges to address, India's growth prospects will depend on the government's ability to implement effective policies and tackle structural issues, making the country a real alternative to China as the next global growth engine

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