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