Can Present growth rate of indian economy can be sustained without major reforms in banking sector ,labour laws ,pension bill, further opening of indian economy etc

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Ankit Dangayach (Querist)

03 October 2007 Present UPA government fails to bring any major reform which can further accelerate the growth rate of Indian Economy . So can our Present high growth rate be sustainable in long term ?Can we dream to achieve double digit growth rate Like china?

R.V.RAO

R.V.RAO (Expert)

04 October 2007 THE PRESENT PROJECTED ANNUAL GROWTH RATE OF OUR GDP IS AROUND 9.
AS SAID BY YOU ,THIS IS CERTAINLY OF GOOD RANKING FOR A BILLION PLUS POPULATED COUNTRY LIKE INDIA WHERE INFRASTRUCTURE BOTTLENECKS,POOR HEALTH CARE, VAST ILLITERACY,LACK OF EVEN DRINKING WATER AND DWELLING PLACES AND LACK OF OTHER BASIC NEEDS ARE FELT BY MANY POORER SECTIONS OF OUR SOCIETY.
NOT LONG AGO WERE DAYS WHEN EVEN 8% GDP GROWTH P.A WAS A CHALLENGE.
YES TO SUSTAIN THIS HIGH RATE OF GDP GROWTH, POLITICAL WILL IS THE DIRE NEED OF THE NATION RATHER THAN AN ELECTION AGENDA OF THE POLITICAL PARTIES.
CHINA, YES HAS AN INDOMITABLE POLITICAL WILL,WHEN IT COMES TO NATIONAL GROWTH.
THEY HAVE BUILT HUGE INFRASTRUCTURE FACILITIES FAR MORE THAN INDIA AND THIS RESULTED IN HIGHER DIRECT FDI INTO CHINA THAN INDIA.
BUT INDIA HAS A FEW BUT SERIOUS PROBLEMS LIKE TERRORISM,UNFRIENDLY NEIGHBOURING COUNTRIES,DYNASTIC SHADES IN RULING PARTY ETC.ALL OF WHICH ARE NOT THERE IN CHINA BUT SomeOTHER PROBLEMS RELATIVELY IN MUCH SMALLER PROPORTION COMPARED TO INDIA ARE THERE.
POLITICAL UNCERTAINITY AND AGE OF COALITION GOVTS.HAS BECOME ORDER OF THE DAY IN OUR COUNTRY BESIDES CORRUPTION AND LACK OF DISCIPLINE AND ABSENCE OF STRONG NATIONAL FEELING OR TOGETHERNESS WHICH ARE BATIONS OR GROWTH DRIVERS FOR ANY COUNTRY TO PROSPER.MORE SO FOR A BIG COUNTRY LIKE INDIA.
AS FAR AS UPA IS CONCERNED,YES THEY HAVE PARTNERS PULLING THE GOVT. IN DIFFERENT DIRECTIONS MAKING ANY POLITICAL DECISION A NIGHTMARE RATHER THAN A STEP TOWARDS NATIONAL GROWTH. THIS IS A TRAGIC AND DIFFICULT REALITY WHERE EVEN SURVIVAL IS GETTING TOUGH DAY BY DAY WHAT TO SPEAK OF MAJOR REFORMS.
ANY WAY PEOPLE ALWAYS GET THE GOVT. THEY DESERVE.
SO WHEN ALL OF US (THE VOTERS) REALISE AND ACT SUCH THAT WHAT WE NEED TODAY IS A STABLE DEMOCRATIC GOVT. WITH A STRONG MAJORITY,WE WILL BE NEARER TO ACHIEVE OUR DREAM TO MAKE BIG AS A SUPER ECONOMIC POWER IN THE WORLD.LET US HOPE THAT SUCH A DAY IS VERY NEAR AND PREY GOD FOR SUCH A LOVELY DAY.JAIHIND
R.V.RAO

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