Can India become a developed country in 50 years?

With 500 million people earning less than USD 2 per day, will India hope to be a developed country in 50 years? By developed I mean: less than 90% of population earning more than USD 20 per day; pretty modest target for 50 years from now. As I see it, you could add to the list, the following are the key areas of challenges (in no particular order of importance):

- population and its rampant growth
- corruption
- lax rule of law
- lack of inclusiveness
- vote bank politics - cates, religion, language
- delayed justice
- general apathy of general public
- hostile neighbours all around; military spending, extremism
- inequitale distribution of exisiting and generated wealth
- wasteful pursuits by significant chunk of the population
- low quality higher secondary educational system
- incessant squabbling in the name of democracy
- weak media
- falling (fallen?) integrity and value
- lack of awareness about environment, hygiene etc
- lack of Human Rights awareness
- total lack of awareness of most of the above

Each of the above points call for a book. However, Who in India - Govt, Parliament, NGO, business - is making a concerted effort to mitigate any of the above issues? Are we expecting these things to solve by itself? 

I don't have any idea how we are going to face all these challenges. I want my learned friends to contribute actionable ideas.
Humble request: Let us avoid rhetoric, grand-standing, posturing, bias or prejudice.