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Sun, February 9, 2025
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Can We Achieve Sustained High Growth?

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Until 1991, the union budgets used to evoke a lot of excitement for the wrong reasons. Given the prevailing license-permit-quota raj and oppressive government control of economic activity, tinkering with excise and customs duties used to be the favourite pastime of finance ministers.
The article from MSN discusses the potential for India to achieve sustained high economic growth, highlighting several key points. It notes that India's economy has shown resilience and growth, with GDP growth rates surpassing expectations, reaching 8.4% in the last quarter of 2023. The article explores the factors contributing to this growth, including robust domestic demand, significant investments in infrastructure, and a burgeoning digital economy. However, it also addresses challenges such as global economic uncertainties, geopolitical tensions, and the need for structural reforms to ensure long-term growth. The piece emphasizes the importance of policy consistency, enhancing the ease of doing business, and increasing labor force participation, particularly of women, to maintain and accelerate this growth trajectory. It concludes by suggesting that while the potential for high growth exists, it requires a balanced approach between economic liberalization and social equity to be sustainable.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/economy/can-we-achieve-sustained-high-growth/ar-AA1yIl9p ]