Former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia on Wednesday said it would be unrealistic to assume that India would record a sustained growth of 8 per cent, which is needed to become a 'developed nation' by 2047. Participating in a panel discussion organised by the Centre for Social and Economic Progress (CSEP), he said India's annual per capita income is around USD 2,000 and it is unlikely that it would increase to USD 12,000 by 2047 to become a high-income country as per the World Bank's definition.