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