India needs to grow at 8-9% for the next 20 years to be a developed country: C Rangarajan

Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and to be classified as a developed country, the per capita income will have to be at a minimum of $13,205 and that will take more than two decades of strong growth of between 8 to 9 percent to achieve it.