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