India needs to focus on education and healthcare to become a developed country: Rajan

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Mumbai: Former Reserve Bank of India (RBI) Governor Raghuram Rajan said that India needs to pay special attention to education and healthcare to become a developed country by 2047.

In the last 25 years, India has maintained an average annual economic growth rate of six percent, which is not easy for any country.

In order to lay a strong foundation, he requested to pay special attention to education and healthcare sector besides administrative reforms. He made this suggestion at a book launch in Kolkata.

If India wants to become a developed country by 2047, it will have to achieve economic growth at an average annual rate of seven percent. With an economic growth rate of seven percent, India's per capita income, which is currently $2,400, can rise to $10,000.

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