India to become third-largest economy by 2031: Dr Agarwal

Mangaluru: India has recorded significant economic progress despite global economic uncertainties and is on course to become the world’s third-largest economy by 2031, according to BJP national general secretary and Rajya Sabha MP Dr Radha Mohan Das Agarwal.

Speaking at a press conference during the Viksit Bharat Sankalp Sammelan held in Mangaluru, Dr Agarwal highlighted the country’s economic growth, welfare initiatives and development achievements under the leadership of Prime Minister Narendra Modi. He said India’s growth trajectory remains strong despite challenges faced by economies across the world.

India records strong economic growth

Dr Agarwal stated that India has achieved an economic growth rate of 7.7 per cent during a period marked by global economic disruptions. He said the country’s economy has expanded considerably over the past decade, increasing from approximately 1.9 trillion dollars during the 2003–14 period to 4.1 trillion dollars at present.

Expressing optimism about the country’s future, he said India is expected to emerge as the third-largest economy globally by 2031 if the current pace of growth continues.

Comparing India’s performance with major economies, Dr Agarwal said the country’s growth rate remains higher than several developed and emerging nations. He noted that the United States recorded growth of 2.6 per cent, China 4.4 per cent, Japan 0.7 per cent and Germany 6.79 per cent, while India stood at 7.7 per cent.

Poverty reduction and economic indicators

Highlighting socio-economic progress, Dr Agarwal said nearly 25 crore people have moved above the poverty line over the last 12 years. He added that unemployment currently stands at 5.1 per cent while inflation has been maintained at around 4.5 per cent.

According to him, these indicators reflect the effectiveness of government policies aimed at promoting economic growth while ensuring social welfare and financial stability.

He said sustained investments in infrastructure, financial inclusion and welfare schemes have contributed to improving living standards across various sections of society.

Welfare schemes benefiting millions

Dr Agarwal outlined several flagship welfare programmes implemented by the central government. He said approximately 80 crore people are benefiting from food security schemes that provide ration support across the country.

He also stated that electricity connectivity has been extended to villages and households nationwide, ensuring wider access to essential services. In addition, he highlighted initiatives aimed at improving access to education and healthcare.

According to Dr Agarwal, around 50 crore people have received healthcare benefits through the Ayushman Bharat scheme. He further noted that 10.51 crore beneficiaries have received free LPG connections under government programmes, while eligible consumers continue to receive a subsidy of ₹302 on four LPG cylinders.

Karnataka sees gains from central schemes

Focusing on Karnataka, Dr Agarwal said several central government schemes have witnessed extensive participation in the state.

He stated that 2.12 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana, promoting financial inclusion among economically weaker sections.

Additionally, around 1.6 crore people in the state have benefited from the Pradhan Mantri Jeevan Jyoti Bima Yojana, while 2.6 crore beneficiaries have been covered under the Pradhan Mantri Suraksha Bima Yojana. The Atal Pension Yojana has benefited approximately 48.9 lakh people in Karnataka, he added.

He said these schemes have strengthened social security coverage and increased access to banking and insurance services among citizens.

BJP state leadership decision to be taken by committee

Responding to questions regarding a possible change in the Karnataka BJP state president’s post, Dr Agarwal said the matter would be decided by a committee headed by the party’s National Council President.

He did not elaborate further on the issue but indicated that the decision-making process would follow the party’s organisational procedures.

Senior BJP leaders attend event

Several BJP leaders and elected representatives attended the press conference. Among those present were former minister Krishna J Palemar, MLAs Vedavyas Kamath, Dr Bharat Shetty, Umanath Kotian, Harish Poonja, Rajesh Naik and Bhagirathi Murulya.

MLCs Pratap Simha Nayak and Kishore Kumar, former MLA Monappa Bhandari, Dakshina Kannada BJP president Satish Kumpala, former Mayor Premanand Shetty and other party leaders were also in attendance.

Conclusion

Emphasising the vision of a developed India, Dr Agarwal said the country’s economic and social development initiatives are delivering measurable results across sectors. He expressed confidence that continued growth, welfare measures and infrastructure expansion would help India achieve its goal of becoming one of the world’s leading economies in the coming years.