[email protected]
Par 100 posts (V.I.P)
India Shining
“In the past our growth rates of Gross Domestic Product (GDP) have been such
as to double our per capita income over a period of nearly 20 years. The changing
world scenario—political, economic, social and cultural has proven to all of us that
such a growth rate will reduce India’s stature in the world and put it in the
receiving end of the game.”2
Reacting to the above fears and recognizing the importance of making a
quantum jump compared with past performance, Planning Commission started
examining the feasibility of doubling per capita in the next ten years and stated
that “with population expected to grow at about 1.6% per annum, the target
requires the rate of growth of GDP to be around 8.7% over the Tenth (2002-2007)
and Eleventh Plan (2007-2012)”.
The approach paper to the Tenth Plan admits that 8 to 9% annual growth
target for the next ten years is technically feasible, but, that it could not be
achieved through a “business as usual” approach—‘Radical Changes’ are
necessary. “The principal reason why 8% growth may be feasible in the Tenth Plan
is that the scope for bringing about improvements in efficiency is very large, both
in the public sector and in the private sector
“In the past our growth rates of Gross Domestic Product (GDP) have been such
as to double our per capita income over a period of nearly 20 years. The changing
world scenario—political, economic, social and cultural has proven to all of us that
such a growth rate will reduce India’s stature in the world and put it in the
receiving end of the game.”2
Reacting to the above fears and recognizing the importance of making a
quantum jump compared with past performance, Planning Commission started
examining the feasibility of doubling per capita in the next ten years and stated
that “with population expected to grow at about 1.6% per annum, the target
requires the rate of growth of GDP to be around 8.7% over the Tenth (2002-2007)
and Eleventh Plan (2007-2012)”.
The approach paper to the Tenth Plan admits that 8 to 9% annual growth
target for the next ten years is technically feasible, but, that it could not be
achieved through a “business as usual” approach—‘Radical Changes’ are
necessary. “The principal reason why 8% growth may be feasible in the Tenth Plan
is that the scope for bringing about improvements in efficiency is very large, both
in the public sector and in the private sector