The 16th Finance Commission Chairman Arvind Panagariya on Saturday said India's aim to become a developed nation by 2047 is a "realisable ambition" for which the country's per-capita income needs to grow at 7.3 per cent in dollar terms to USD 14,000 over the next 24 years. India's per-capita income, in 2023-24 dollar terms, is about USD 2,570, which is very low compared to countries like South Korea, Taiwan, United States, and other European nations. Speaking at the 49th Civil Accounts Day, Panagariya said with the existing technology, coupled with reasonable capital accumulation and skill acquisition, India has enormous room for catching up with the per-capita income of developed nations and meet World Bank's definition of USD 14,005 per capita income annually. Today, our per capita income in dollars is about USD 2,500. To get to USD 14,000 in 24 years or by 2047-48, what growth rate do I need for per capita income? my per capita income from 2023-24 onward has to grow annually at