Growth is indeed a major outcome of the planning process. We
have to plan for a growth of 8 per cent to 9 per cent on a long-term and
sustained basis to become a middle income country by 2025, or in the next
decade. This is not a very ambitious goal for a country with per capita income
levels of about $1,500. The average
growth of the GDP in the period 1990-2010 averaged 7.5 per cent. These were the
initial years of reforms. Unfortunately, in the last three years growth has
decelerated and averaged about 5 per cent. In the first two quarters of the
current year it has continued to be sluggish and averaged 5.5 per cent. While
part of the reason for this decline is slow growth in international demand,
domestic policies have also led to depressed growth sentiments.
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