Indian Economic Growth B&A 2014
I'm not that much familiar with Politics so this isn't a post to share information but seeing actual information from people who follow Politics.
Since the recent demise of Ex-PM Manmohan Singh (RIP), it got my attention of all the contribution and development made to India and its Economic Growth which was conveyed in News channels.
I'm trying to understand if such a contribution and drastic changes made to India's growth, is the India growing exponentially after 2014? Or is it just BS that people say that India has grown after 2014 with the current government? If not, is India in the right place where it is supposed to be till date?
Most Media talks about India after 1991. Nobody talks of life before that.
MMS was the chief economic advisor to gvmt from 1972-76. The tax rate at that time was 97.5%. yes, if you earn 100 rs, you pay the gvmt 97.5%. Later he became the finance secretary, then RBI governor, than finance minister in 1991. The non existent financial markets in the 1980's called the period as "financial regression". He walked the corridors of power, for a full 25 years before becoming the finance minister. And somehow realized the values of capitalism and limitations of a social economy only the balance of payment crisis hit the country.
The truth is IMF is the reason why we opened up our economy. They forced us to do it for lending money. If not for that event, we would be a regressive socialist economy. So, it is a myth that MMS is reason for our country's development. he was a textbook bureaucrat who served politicians faithfully to retain his job at best.
“growing exponentially after 2014”!! I think even hard core BJP supporters will laugh at that. The next sentence is anyway meaningless- “india has grown after 2014”, I mean who will say India hasn’t. Growth is natural, with a Country as resourceful as India, so that is beside the point.
The question is, has India grown at such massive pace as was expected with the Govt being formed in 2014? Has India grown at far far better pace post 2014, compared to pre-2014? Has India been growing at a satisfactory growth rate, or is there some glaring loopholes/slowness in growth story?
