The Hindu March 2015 Editorials
NOIDA/DELHI 8 EDITORIAL THE HINDU MONDAY, MARCH 2, 2015 A framework for recovery and growth again to the rate of 36 per cent. After a decade of economic decline, wrongly To become a developed country in the fore- attributed to the global economic meltdown, seeable future, India’s GDP will have to grow at 10 to 12 per cent per year for at least a recovery and growth need a different policy today, decade. A 12 per cent GDP growth rate per year will mean a doubling of GDP every six MONDAY, MARCH 2, 2015 using a new framework of objectives, priorities, years, and that of per capita income, doubling every seven years. strategy and resource mobilisation measures. The This level of the growth rate can take us to the league of the top three nations of the Positive signals Union Budget is a serious attempt to have such world, of the United States, China and India a framework in place by 2020, and then aim to overtake China in udget-making today is a tough call the next decade thereafter. That should be a for business for a Finance Minister trying to re- the fine print of the Budget documents. Moreover, in the past, in the revenue bud- stated goal of every budget and not just a verse the past decline caused by the He has introduced many new measures, get, these expenditures far exceed the reve- “balancing the books” exercise. here are several features of Finance Minister BUPA’s policies. The Indian econo- such as a vastly increased agricultural credit nue.
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