If growth rate is not over 6%, India will remain lower middle economy by 2047: Raghuram Rajan
New Delhi: Former Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the growth rate remains at 6 per cent annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then.
Speaking at a programme organised by Manthan here, the economist said if the country does not grow faster, it will grow older (demographically) before it gets richer, which means there is the burden of an aging population to deal with also at that point.
"If you do the math, at 6 per cent a year, you double every 12 years, and therefore in 24 years, we'll be four times our per capita income. Today, the per capita income in India, as you know, is just a little below $2,500 per person. multiply by four, we get $10,000 per person So if you do the math, at our current rate of growth, you know, strong as it is highest in the G20, we don't get rich but we stay lower middle income till 2047," he said.
The former RBI chief said some southern states are growing with regards to population at below reproduction rate, in other words, the fertility rate has fallen below reproduction rate thus slowing the growth.
"In other words, we will start the process of aging at some point around that time, which leads to the alarming question if we don't grow faster, we will grow old before we grow rich, which means we all have all the burdens of an aging population to deal with also at that point," he opined.
According to him, the current pace of growth is not enough to employ all those who are entering the labour force and insufficient to make the country us get rich, before it gets old.
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Mangaluru cooker bomb case: Main accused gets 10-year jail term
Bengaluru/Mangaluru (PTI): A special NIA court in Bengaluru on Monday sentenced the prime accused in the Mangaluru cooker bomb case to 10 years rigorous imprisonment and slapped a fine of Rs 94,000.
Mohamed Shariq had initially claimed innocence in the case, but later pleaded guilty under Section 229 of CrPC in December 2025, which the special court accepted.
According to prosecution, Shariq was carrying the pressure cooker IED (improvised explosive device) in an autorickshaw, and allegedly planned to plant it at Mangaluru’s Kadri Manjunatha Temple to spread terror among the Hindu community. The low intensity bomb, however, accidentally exploded on the way on November 19, 2022.
As per the operative portion of the order pronounced in open court, the accused Shariq (Accused No.1) was handed 10 years rigorous imprisonment and a fine of Rs 5,000 under Section 120B (criminal conspiracy) of the IPC.
He was also received two years’ rigorous imprisonment each under Sections 465 (forgery) and 471 (using forged documents), with fines of Rs 2,000 each.
The court further awarded 10 years’ rigorous imprisonment and imposed a fine of Rs 10,000 each under Sections 121A (waging war conspiracy), 122 (collecting arms with intent to wage war), 307 (attempt to murder) and 326 (causing grievous hurt).
Under provisions of the Unlawful Activities (Prevention) Act, 1967, the accused was sentenced to 10 years’ rigorous imprisonment and fined Rs 5,000 each under Sections 16(b), 17, 18, 20, 38, 39 and 40.
Additionally, under the Explosive Substances Act, 1908, he was awarded 10 years’ rigorous imprisonment with fines of Rs 5,000 each under Sections 3(a) and 5(a).
The court ordered that all substantive sentences shall run concurrently. In case of default in payment of fines, additional imprisonment ranging from one to six months has been prescribed for different counts.
The court also ordered that the period already undergone in judicial custody be set off against the sentence under Section 428 of the CrPC. The fine amount, once recovered, will be utilised towards defraying prosecution expenses.
Advocates said the court directed that a soft copy of the order be provided to the accused through email and a hard copy be sent by post, as his presence was secured through video conferencing.
A warrant of conviction has been ordered to be issued.
In the same case, the judicial custody of accused no 2 has been extended till May 21, 2026, and jail authorities have been directed to produce the accused through video conferencing on that date.
The Vishwa Hindu Parishad welcomed the court verdict and urged the NIA to file an appeal in the court to increase the sentence.
"His intention was to blow up the Kadri temple and kill hundreds of devotees. Considering this, the sentence should have been increased but the sentence has been reduced. We immediately urge the National Investigation Agency to file an appeal with the court to increase the sentence," the VHP said in a statement.
