Stories
India Needs 8-9% Growth Over Two Decades to Realize Ambitions: Saurabh Garg
M
Moneycontrol•16-10-2026, 21:11
India Needs 8-9% Growth Over Two Decades to Realize Ambitions: Saurabh Garg
- •Statistics Secretary Saurabh Garg stated that India must sustain an 8-9 percent economic growth rate over the next twenty years to achieve its long-term development goals.
- •Garg emphasized that India should aim to expand its economy nearly ninefold during this period, capitalizing on the nation's demographic advantage.
- •While GDP remains a useful measure of economic activity, Garg noted the necessity to evolve measurement frameworks to account for new factors like data as a resource.
- •The revised System of National Accounts 2025 will give greater prominence to natural resource depletion and sustainability as India works toward its Net Zero ambitions.
- •The updated national accounting framework, which will also track societal well-being, is expected to become applicable in India starting from 2028-29.
Key Questions Answered
India needs to sustain an economic growth rate of 8 to 9 percent over the next twenty years to achieve its long-term development ambitions.
The revised System of National Accounts (SNA) 2025, which will be applicable in India from 2028-29, will account for data as an additional factor of production, natural resource depletion, and human well-being.
The revised national accounting framework is expected to become applicable in India starting from the 2028-29 period.
