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