Ex-US Treasury Secretary Summers Sees India's 8% Growth as Imaginable But Unlikely Without Policy Shifts

8% GDP growth target for India 'imaginable' but not based on current policy, says ex-US Treasury Secretary Larry Summers
Summers sees India's potential to transform lives of millions by 2050 with rapid growth
Cites issues like federalism and regional restrictions as hindrances to achieving 8% target
Praises India's G20 leadership for focus on multilateral development banks' role in climate change
Calls for urgent global transition to renewable energy and criticizes overuse of carbon offsets

theprint.in

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India's Economy Could Grow 8-Fold by 2050 with Reforms and MDB Support, Says G20 Expert Group

Former US Treasury Secretary Lawrence Summers believes that a combination of free market forces, infrastructure improvement, and public sector reform could lead to an eight-fold expansion of India's economy by 2050, with an annual growth rate of 8%. Summers also urged multilateral development banks (MDBs) to address pressing issues like climate change, warning that failure to do so may lead to the creation of new institutions. Summers emphasized the importance of transforming MDBs to meet the challenges facing the world.

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Posted 9/23/2023, 3:55:44 PM

Ex-US Treasury Secretary Summers Sees India's 8% Growth as Imaginable But Unlikely Without Policy Shifts

8% GDP growth target for India 'imaginable' but not based on current policy, says ex-US Treasury Secretary Larry Summers
Summers sees India's potential to transform lives of millions by 2050 with rapid growth
Cites issues like federalism and regional restrictions as hindrances to achieving 8% target
Praises India's G20 leadership for focus on multilateral development banks' role in climate change
Calls for urgent global transition to renewable energy and criticizes overuse of carbon offsets

theprint.in

Relevant topic timeline:

8/21/2023

Fed's long-term GDP outlook is dismal; the economy hasn't got the message yet

8/21/2023

China's economy is hitting a wall after years of optimism, former Treasury Secretary Larry Summers says

8/25/2023

"India Shows The Way": SBI Chairman On Sustainable, Inclusive Development

9/15/2023

Sitharaman Optimistic About 10.5% GDP Growth This Fiscal Year, Says Timing Key for IDBI Bank Sale

9/17/2023

Low Inflation May Slow GDP Growth, Threaten Fiscal Targets

9/23/2023

India's Economy Could Grow 8-Fold by 2050 with Reforms and MDB Support, Says G20 Expert Group