Mohanty says India must play catch-up

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A Reserve Bank of India executive director, Deepak Mohanty, on August 28 discussed what it will take for India to become a high middle-income country.

Speaking at the Ruia College in Mumbai, Mohanty said he hopes India can increase its gross national income per capita from its current level of $1,410 to the World Bank's upper middle-income benchmark of $4,035 by 2025, closer to the level of the other Brics countries. To do so, he said, India must recapture its pre-finanical crisis growth rate.

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