Indian Economy in the Next Five Years: Key Issues and Challenges, 2005-2009
During the post independence era, India was well known as an agrarian economy with a weak industrial base, very low level of employment opportunities and serious regional imbalances. The public sector was forced to play a dominant role in developing the economy because the private sector neither had the necessary resources nor the will to undertake risks involved in large investments with long term perspective.For the first time since the introduction of economic reforms a decade ago, India posted a growth rate of 8.2 percent, which is seen as a significant achievement for economy. Needless to say, it took almost 40 odd years for India to transform from the Hindu rate of growth of 3 percent to almost 6 percent per fiscal. Several economists strongly believe that India must aim at a growth rate of over 8 percent every year and most important it should be able to sustain this growth rate consistently for at least another decade. If India can achieve a growth rate of over 8 percent every year consistently for the next two decades, by 2025 India could grow as high as US economy today. The present paper focuses on examining the prospects of Indian economy in the next five years. Further, the paper also lays emphasis on five key challenging issues that India needs to counter if it aspires to become one of the economic super powers in the world.
Volume (Year): 4 (2004)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.usc.es/economet/eaa.htm|
|Order Information:|| Web: http://www.usc.es/economet/info.htm Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arvind Virmani, 2004. "Economic reforms: Policy and institutions some lessons from Indian reforms," Indian Council for Research on International Economic Relations, New Delhi Working Papers 121, Indian Council for Research on International Economic Relations, New Delhi, India.
- Klein, L. R., 2004. "China and India: Two Asian Economic Giants, Two Different Systems," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(1).
- Atul Sarma & Manish Gupta, 2002. "A Decade of Fiscal Reforms in India," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0204, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
When requesting a correction, please mention this item's handle: RePEc:eaa:aeinde:v:4:y:2004:i:1_30. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (M. Carmen Guisan)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.