Business Standard

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

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 or the Business Standard newspaper

Don't miss the most important news and views of the day. Get them on our Telegram channel

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to