As India completes three decades of economic reforms, the question is not whether economic reforms were good for the economy. Reforms did boost growth in a big way, but has India’s growth story already peaked? The 1960s and the 1970s were worse in terms of economic growth than the 1950s. According to the 2004-05 GDP series, India’s GDP in 1961-62 was 1.5 times its 1951-52 value. For example, the compound annual growth rate (CAGR) of GDP was 1.8 times the CAGR for per capita GDP between 1981-82 and 1991-92.

Source: Hindustan Times July 04, 2021 19:18 UTC