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