India, Feb. 7 -- India's vision of becoming a developed nation by 2047 requires a clear understanding of its current economic landscape along with an anticipatory overview of the challenges that might emerge along the way.

The National Statistical Office (NSO) estimates a 6.4% growth rate for 2024-25, the slowest since the pandemic - with concerns about if it reflects a natural economic cycle or a result of the government's reduced capital expenditure (10% of budget allocation in FY 24-25, a third of the allocation in the prior three budget cycles). Training focus on capital expenditure is certainly essential, corroborated by the National Institute of Public Finance and Policy (NIPFP) which outlines how every rupee spent on infrastructur...