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