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Will India continue to be an underdeveloped lower middle-income country?

Given the realities, the prospects of India becoming something more seem bleak, unless transformational change occurs soon

Illustration by Binay Sinha
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Illustration by Binay Sinha

Percy Mistry
At this time each year India obsesses about growth, budgets and deficits. As usual, the 2018-19 Budget is being overplayed, though budgets are but passing fancies. The critical question is: Where is India going? Will it become a rich “developed” nation in the foreseeable future? Ever?

China grew at 10 per cent for three decades (1979-2009). India has grown at 7 per cent from 1991 to 2016. Its growth trajectory has been interrupted by politics of a kind that China avoids, and by a continuing hesitancy about economic reform. Current performance (of a government elected for vikas) in 2014-17 is disappointing.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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First Published: Jan 31 2018 | 5:14 AM IST

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