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Welcome move to widen the tax net… Wanted: decentralised financial system Sardar Sarovar – the seventy year itch Economy through the month Indian GST – Between extremes… Kudos to GIM organisers... Welcome Measures. Work for 10X Change South India’s 100 most valuable companies Why throw baby with bath water? Cleansing Indian retail Rail-road Rajaraman Trail-blazing Tamil Nadu Weaving wealth of western Tamil Nadu 1800 parties registered with EC – Less than 60 contest elections A dual GST that will protect prosperous states Truce at Kasturi Buildings PC please be our Santa Policy Makers Research for survival... How will it PAN OUT A Fine division of responsibilities Breaking news or breaking credibility? Public investments and welfare will surge BJP can now hasten its thrust for reforms The Great Fall Tax evaders’ get out of Jail-Free Card Why (not) abolish? Deming awardees galore! Low profile moves Better relations with UK... Focus on southern TN... Star of the South Need plan over the long term planning An eco-friendly commute in Mysuru TN - so much to offer... A tale of two Bihar babus They add lustre to Padma Awards What the big B should offer? After all, customer is the king The deluge and the several kindly souls Sowing seeds of hope Healthy finances of the Chennai Corporation No groundnuts in groundnut oil! An eventful week with VVIPs of Delhi Focus on agriculture and human resources Babes In the wood-RBI North block has little clue to curb inflation Little surplus after salaries, subsidies and debt servicing CAD and the emergency thereof Technology and economic development should be linked Reform this licence to…kill A gratifying record Pool energy prices Tryst with GST Land, land everywhere, but... Industry can’t get it from Mars, yet CSR, tech revolution and bank crisis In the horns of a dilemma Well-administered State Chennai Airport-Ready for a rapid take off... Miles to go... A blueprint for the future When the examiner cheated... Much can be done by us Need for radical RBI reform A historic indirect tax reform You too T M Krishna? Two welcome measures from the chief minister... Oh my GOLD It’s raining funds for states. Really? MS Installed Make way for Make in India... Ganesh’s mantras Welcome rains for damaged roads... Strategic planning the missing link Skewed Economic Zones? If not Tamil Nadu, where else? Outward ho Much ado about nothing INDIA keeps its date with destiny Sustainably developing manufacturing sector… Jobs - Lost, Changed or Gained Babes In the wood-RBI North block has little clue to curb inflation
 
MS Installed
That’s how many felt in the summer of 2004 when the famed architect of economic reforms was anointed India’s prime minister. For the first time, a technocrat with humongous experience as a bureaucrat was assuming that office. Many believed that this would be a game changer. 10 years on, there is a whipped up mood of pessimism, with the nation crying for change. Was it all that bad? Let’s look at some bald numbers.

GDP GROWTH

The GDP reflects the wealth created in a country in a particular year. Three sectors drive this growth: agriculture, manufacturing and services. Once upon a time we grew at 2-3 per cent, which came to be dismissed as the Hindu rate of growth. Given the fact that our population was growing at 2 per cent it meant that any economic growth was punctured by our population growth. Things started changing with the onset of economic reforms in 1991.  Once we stabilized in the 8 per cent zone we started moving up. From growing at 8.5 per cent in 1999 we hit peaks in 2007 and in 2010 but have now slipped down very significantly. Worse still, the growth rates are currently below the 5-year moving average.  The good news is that from here it can only go upwards!  The funny part is that when the economy does well the credit goes to industry and when it does poorly the debit goes to the national government. India’s 10 years’ average GDP growth is 7.6 per cent per annum while China’s is 10.3 per cent. With China growing faster than India, and for more extended number of years, we are under the threat of being left far behind.

    We think it’s a 3/5 in terms of performance on the GDP front.

 

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