ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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India's Growth Story: Pre- and Post-Crisis

The earlier than expected recovery of the Indian economy from the effects of the global crisis has led to predictions of a return to the 9% growth rate witnessed in the 2003-08 period. But some awareness of the downside risks is necessary, for the Indian economy does not currently enjoy the benefi ts of low infl ation, low interest rates and favourable debt indicators. It is also a cause for concern that between 2006-07 and 2010-11 some macroeconomic indicators such as the current account defi cit have shown a trend similar to that between 1986-87 and 1990-91, when India faced an acute balance of payments crisis. A cross-country comparison also shows that post-crisis India is poorly placed in respect of these parameters when compared to its counterparts.

India’s Growth Story: Pre- and Post-Crisis

EPW Research Foundation

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