Addressing the nation from the ramparts of the Red Fort on the 76th Independence Day, Modi coined ‘Panch Pran’ or lifeblood resolves for the nation when it celebrates its 100th year of independence in 2047.
Prime Minister Narendra Modi on Monday set an ambitious target of making India a developed nation by 2047 and made a renewed pitch for cutting import dependence and boosting domestic manufacturing. Addressing the nation from the ramparts of the Red Fort on the 76th Independence Day, Modi coined ‘Panch Pran’ or lifeblood resolves for the nation when it celebrates its 100th year of independence in 2047.
The first of them is to make India a developed nation. “For the next 25 years, we need to focus on the ‘Panch Pran’. The first is making India a developed country,” he said. India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation. A developed country is typically characterised by a relatively high level of economic growth, a general standard of living, and higher per capita income as well as performing well on the Human Development Index (HDI) that includes education, literacy and health.
India was classified as a ‘third-world’ country at the time of Independence from British rule in 1947. But over the past seven decades, its GDP has grown from just Rs 2.7 lakh crore to Rs 150 lakh crore.The nation weathered many crises to be ranked among the biggest economies of the world and the fastest growing major economy on the planet.