Nourishing GDP.

In the next 25 years "we will be at our demographic peak. Between now and then, the proportion of the population of working age will rapidly rise and then fall. This is the phase where we will first go past Germany in the next 18 months and the next 18 months we will go past Japan to become the world's third largest economy." said Sanjeev Sanyal, member of the Economic Advisory Council of the Prime Minister (PM-EAC). As for our GDP growth rate, "Almost all series are based on the base year of 2011-12. We need to update the base year, and when we do it, our growth rate will be higher." "India has the potential to become a $5 trillion economy and the world's third largest, ahead of most predictions," according to Prof Arvind Panagariya. Union Home Minister Amit Shah said that "under the leadership of Modi, India will become a 5 trillion dollar economy by the end of 2025." HT. We sincerely hope India will not be charged under UAPA (PRS) if it fails to obey this order. For the economy to grow we need higher consumer spending. "If you correct for inflation, then consumer spending is rising only at around 3%, and this makes up 60% of GDP." "Consumer spending momentum can be maintained if there is commensurate growth in employment, wages, and in retail loans." "High inflation can adversely affect consumer sentiment, as people cut down spending on discretionary items," wrote Ajit Ranade. By 10 December, "More than a week into the final placements at the Indian Institutes of Technology," "Placement team members at several old IITs told ET that the number of students who have landed job offers till now is down by between 15% and 30% compared with a year earlier," and "For the first time, even some computer science engineering students - the most coveted of the lot - are yet to be placed in over a week." ET. According to Prof Raghuram Rajan, "while certain regions, such as Noida and Gurgaon, mirror a 'first world' economy, others lag behind, comparable to conditions seen in the third-world or sub-Saharan African nations." ET. Not just Noida and Gurgaon, "For years, China's rich have dominated global wealth flows but Dubai now offers one of the earliest signs yet of the potential impact India's new millionaires and affluent families can have overseas." "Dubai brokerage Betterhomes says Indians are the top buyers of real estate in the city." DH. Conversely, "According to the 2023 report on food security and nutrition by five UN agencies, 74.1% of Indians, approximately 1.043 billion people, were unable to afford a healthy diet in 2021. The report also estimated India's proportion of undernourished population at 16.6% during 2020-22." The Wire. India's total population is around 1.43 billion. worldometer. This means about 400 million people in India get a healthy diet. If, even half that number, that is 200 million, have a high disposable income that would be more than the combined populations of Germany (83.3 million), France (65 million) and Britain (68 million). Does it mean India is richer than all of them? Perhaps, the remaining 1.2 billion can frame the GDP figure. Should be nourishing.