India's Per Capita Income To Grow By 70%; External Trade To Double By 2030 | Report | In Focus

Standard Chartered Banks in its recently published weekend report claimed that India’s external trade may nearly double to USD 2.1 trillion by 2030. Currently, it is almost 1/3rd of the overall GDP at 1.2 trillion dollars.

The report further claims that as that happens India's per capita income will grow by nearly 70 per cent to USD 4,000 by FY 2030

Watch the full video for more details.

#indianeconomy #pmmodinews #standardcharteredbank #indiaexportdata #indiaexport #indianexporters #percapitaincome #percapitagdp #imf

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[absingh]

3 years ago opposition was making fun of 5 trillion dream by 2024. Now suddenly they are claiming it to be a 'no big deal'

[k.k.c]

Well at an inflation rate of 5 to 7% which is included in nominal GDP calculations, no big deal. India's inflation is way above Germany's, China's and Japan's (especially Japan and China). It's been on average between 5 to 7% over the last decade.

[bollyfan]

None of these include ~ 10% appreciation of the Rupee vs. the Dollar, which will give a 10% boost to nominal GDP over the next 5 - 8 years.

[sadenb]

Urbanization and agricultural reforms are must for an even distribution of per capita income. Farm bills was a step towards agricultural reforms but sadly the goons don't like them. Much of the UP and Bihar population are agrarian in nature. That sector have to be modernized.

[lastChang..]

India's growth story is not an even affair.
- Most Indians do not enjoy the benefits of India's growth
- Only the elite class like Adani and Ambani are

[vinukrishnannair]

If Modiji and BJP party comes as majority in 2024 India will definitely be the 3rd largest economy and then the world superpower by 2050. Hope Indians vote responsibly

[TeddyAlexanderv]

I've been purchasing stocks since the beginning of the year, but nothing has changed. However, I've been reading articles about people who are still in the same market who have made over $350, 000 in just a few months. What am I doing incorrectly?

[raghavjain]

EDUCATION AND MANUFACTURING IN UTTAR PRADESH AND BIHAR

[XYz-xfbq]

UP & bihar will never let india becomes developed country by their nacked divisive politics

[AjayKrishna-qs]

The actual GDP is atleast double the official figures. This is clearly evident from large cash transactions & low tax payer base for a population of 140 crores. The bulk of the informal economy is due to high tax rates & lack of compliance. We can reduce the informal economy substantially through a carrot & stick approach. The carrot is reducing tax rates or at least improving the slabs initially & the stick being use of technology to increase compliance.

TAXES
The following tax slabs under the new regime must be implemented to increase tax collection.

Income upto 12 lakhs - Nil tax
Income > 12 lakhs & up to 36 lakhs - 5 %
Income > 36 lakhs & up to 60 lakhs - 10%
Income > 60 lakhs & up to 1 crore - 15%
Income > 1 crore & up to 100 crore - 20%
Income > 100 crore & up to 1000 crore - 25%
Income > 1000 crore - 30%

If implemented, the tax payments will increase substantially from the business community. Further, LTCG on property must be reduced to 5%.

The salaried tax payers under the old regime must also be given benefit by improving tax slabs & increasing deduction upto 6 lakhs on 80C, 80CCC, 80CCD, 80D & other medical & disability related deductions. Another 6 lakhs deduction must be allowed under 80E, 80EE, 80GG, etc. for payment of housing loan & education loan, apart from non cash rent payments. Increasing 80GG limit will substantially improve declaration of rental income by landlords.

COMPLIANCE
Compliance can be increased by linking both tangible & intangible assets with PAN through an OTP based validation, similar to Aadhaar. Further, these assets must be reflected in the assessees' login to increase transparency. This will improve tax revenues as many earlier undeclared assets will come under the tax regime. It will also reduce benami & fraudulent transactions.

These suggestions, if implemented can increase the GDP to 12-15 trillion $ by 2030.
Unfortunately, the political will is sorely lacking irrespective of the party in power.

[prabhugopal]

And USDINR will remain at 100? GDP Percapita grows but still the nations currency would stay weaker??? There any economists still alive???😂

[tfernandes]

ANALYSIS BY STANDARD CHARTER BANK ECONOMY TO GROW 🇮🇳✌👌👍👏🏆 IN LINE WITH SEVERAL OTHER REPORTS India's GDP to reach $6 trillion by 2030: Standard Chartered Research

[Kevin-fqzh]

your economy will grow faster if you are in CPTPP & RCEP, but you chose to be outside the Asia-Pac gravy train

[kuganrajm]

india have a good sources and all everything but its not possible untill Modi as a Prime Minister pls think and choose a right person ppl dont follow the religion, bribr party like bjp..

[KijjiSale]

India is still very poor and undeveloped third world country (Wikipedia) the rupees have devalue 20x since introduction.

[mohamadazamabdullah]

When the GDP goes up does meant income of people goes up. It will be retained by corporations. Trickle down economics has failed the US, now it will fail India. Maybe India will go to zero due to overexposure to the western capitalist system.

[ME-tcfk]

dhruv rathee : do we need gdp growth ?? doxto 💀☠

[raj-khotmarathawarriorclan]

😂😂😂 when modi make middle class pooor