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Pressing the Indian Growth Accelerator: Policy Imperatives

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  • Rakesh Mohan
  • Muneesh Kapur

Abstract

India’s real GDP growth slipped substantially after the North Atlantic financial crisis. Return to a sustained high growth trajectory is feasible but it will need much more focused attention to the revival of manufacturing and to the acceleration of investment in transport and infrastructure. The immediate priority is to achieve the kind of fiscal quality and low inflation levels exhibited during 2003-08, with focused attention to increasing efficiency and compliance in tax revenue collection. Higher tax revenues can facilitate increases in public investment, which then crowd in private investment. The task ahead will be more difficult in view of the protracted slowdown in global growth and trade.

Suggested Citation

  • Rakesh Mohan & Muneesh Kapur, 2015. "Pressing the Indian Growth Accelerator: Policy Imperatives," IMF Working Papers 2015/053, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2015/053
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    References listed on IDEAS

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    Cited by:

    1. Deb Kusum Das & Abdul Azeez Erumban & Jagannath Mallick, 2021. "Economic Growth In India During 1950–2015: Nehruvian Socialism To Market Capitalism," Journal of Economic Surveys, Wiley Blackwell, vol. 35(3), pages 926-951, July.
    2. Sandeep Kumar Kujur, 2018. "Impact of Technological Change on Employment: Evidence from the Organised Manufacturing Industry in India," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 61(2), pages 339-376, June.
    3. Radhika Pandey & Ila Patnaik & Ajay Shah, 2019. "Business Cycle Measurement in India," Societies and Political Orders in Transition, in: Sergey Smirnov & Ataman Ozyildirim & Paulo Picchetti (ed.), Business Cycles in BRICS, pages 121-152, Springer.
    4. Rahul Anand & Naresh Kumar & Mr. Volodymyr Tulin, 2016. "Understanding India’s Food Inflation: The Role of Demand and Supply Factors," IMF Working Papers 2016/002, International Monetary Fund.
    5. Rahul Anand & Ms. Kalpana Kochhar & Mr. Saurabh Mishra, 2015. "Make in India: Which Exports Can Drive the Next Wave of Growth?," IMF Working Papers 2015/119, International Monetary Fund.

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