Friday, Dec 02, 2022
Outlook.com
Review

Why We Can't Get To 8%

Jalan's treatise is not as much about how the economy works, but why it doesn't

Why We Can't Get To 8%
T. Narayan
Why We Can't Get To 8%
outlookindia.com
-0001-11-30T00:00:00+05:53

If you are lucky, that process can be benign and you get a virtuous cycle of growth and development. If unlucky, it goes the other way round. In one simple sentence Jalan sums up the essence of this book: "If there were no legal and administrative delays, and corruption had been reduced substantially, then India’s growth rate in the past two decades would have been closer to eight per cent rather than six per cent. This would have brought India’s economic progress quite close to that of China, and set the pattern for even higher growth rates in the future."

So, what’s the upshot? Double digit ain’t gonna happen soon.

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