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