India' Economic Growth- a Myth or Reality

Indian Economy to grow beyond 9% pa:

Ten Things for India to Achieve its 2050 Potential

As we have shown before, India could be 40 times bigger by 2050. To achieve this, India needs to implement many changes. India needs to improve its governance, control inflation, introduce credible fiscal policy, liberalise financial markets and increase trade with its neighbours. It also needs both to significantly raise its basic educational standards, and increase the quality and quantity of its universities. India needs to boost agricultural productivity, improve its infrastructure and environmental quality. Delivery of all these would ensure strong, persistent, medium to longterm growth, allowing India to reach its amazing potential.

So What is Needed? India’s Low GES Scores

Top Ten Challenges for India 1. Improve Governance The problem Elements of Reform

2. Raise Basic Educational Achievement

3. Increase Quality and Quantity of Universities

4. Control Inflation: Why Not Have Inflation Targeting?

5. Introduce a Credible Fiscal Policy: A Medium-Term Strategy

6. Liberalise Financial Markets

7. Increase Trade With Neighbours Ambitious goals are needed What about trade with close neighbours?

8. Increase Agricultural Productivity

9. Improve Infrastructure The problem Elements of reform

10. Improve Environmental Quality

Issue No: 169

Ten Things for India to Achieve its 2050 Potential

Having the potential and actually achieving it are two separate things. In this paper, we outline ten crucial steps that we believe India must take in order to achieve its full potential. In our latest annual update to our Growth Environment Scores (GES), India scores below the other three BRIC nations, and is currently ranked 110 out of a set of 181 countries assigned GES scores. If India were able to undertake the necessary reforms, it could raise its growth potential by as much as 2.8% per annum, placing it in a very strong position to deliver the...