India may transform into an upper middle income economy by FY33-36

India may transform into an upper middle income economy by FY33-36: India Ratings and Research India could transition into an upper middle-income economy by fiscal years 2033 to 2036 under different scenarios and become a $ 15 trillion economy over fiscal 2043 to fiscal 2047, said a report by India Ratings and Research on Monday. Listing out various scenarios, the agency said that to become a $5 trillion economy by FY30 with per capita income of $ 3,467, the economy would require a real GDP growth rate of 6.25%, GDP deflator growth 3.5% and INR/USD depreciation 3.25%. But to transform to a $5 trillion economy by FY2029 with capita income of $ 3,530, real GDP growth per annum would have to be faster at 8%. [Read more]( If you would prefer not receiving our emails, please [Click Here](