Rajan Stresses Education, Healthcare as Vital for India to Become Developed by 2047
• Raghuram Rajan highlighted education and healthcare as key areas for India to become a developed economy by 2047 • India has maintained 6% average growth over past 25 years, but needs over 7% sustained growth rate to reach developed nation status • Governance reforms needed along with focus on education and healthcare to build strong foundation • Demographic dividend will diminish after 2050, so need to determine future direction for sustaining growth • Decentralization of education and bottom-up growth important for balanced development across income levels