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'India risks decade of stagnation if GDP doesn't grow 8% per year'

Aug 27, 2020 15:22 IST

India's GDP needs to grow 8-8.5% per year to create opportunities in the post-Covid-19 era, a research report has said. The country risks a decade of stagnating incomes and quality of life if urgent steps are not taken to spur growth, a report by McKinsey Global Institute mentioned. According to the report, the country will have to undertake a slew of reform measures over the next 12-18 months with the aim of increasing productivity and creating jobs. India will have to triple job creation to 12 million per year from the 4 million achieved between 2013 to 2018, it said.

Economy