NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' has said that India needs to strive to be a $30 trillion economy with a per capita income of $18,000 per annum by 2047. It said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it. It said ‘The GDP would have to grow nine times from today's $3.36 trillion and the per capita income would need to rise 8 times from today's $2,392 per annum’.
The paper also noted that progressing from a middle-income to a high-income level requires sustained growth in the range of 7-10 per cent for 20-30 years and very few countries have managed to do this. Defining the concept of Vikshit Bharat, the paper said it is a Bharat which will have all the attributes of a developed country with a per capita income that is comparable to the high-income countries of the world today. It is a Bharat whose social, cultural, technological, and institutional features will mark it out as a developed nation with a rich heritage and one that is capable of functioning at the frontiers of knowledge. The paper said upgrading capabilities in manufacturing and logistics and bridging the gap between rural and urban incomes are some of the structural challenges that India needs to address.
It noted that the country needs to achieve a balance between energy, security, access, affordability and sustainability. The document said improving the competitiveness of industry is equally necessary for the transformation of the country's agricultural workforce into an industrial workforce and making India a global manufacturing and service hub. Noting that a vision for India cannot be the work of a few individuals or of one government, the document said it has to be the result of the collective efforts of the entire nation. According to the document, India is at a turning point in its history and the 21st century can be India's century, as the country pole-vaults into the future confident of its capabilities.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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