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