India, Sept. 15 -- Critics argue that Prime Minister Modi and his party are skilled at crafting narratives that divert public attention from the pressing challenges facing the Indian economy. One such narrative is the assertion that India is on track to become the world's third-largest economy and join the ranks of developed countries by 2047. While many economists have not entirely dismissed this dream, they have expressed serious doubts about its feasibility.

Indeed, India may soon become the world's third-largest economy, after the United States and China-a significant milestone. However, India still has a long way to go to join the league of developed nations in terms of quality of life and individual well-being. A major flaw in the ...