Don't count on a growth miracle

In a volatile global landscape, sustained growth rate of more than 7 per cent is quite a challenge

The recent Budget has assumed real gross domestic product (GDP) growth of 6.5 per cent for FY25. The latest Economic Survey forecasts growth of 6.5-7 per cent.  Would-be reformers in India are asking for more. They urge the government to do whatever it takes to boost GDP growth to 8, 9 or even 10 per cent. Aiming for a higher growth rate has become a sort of test of the government’s machismo.

The gratifying part of current growth aspirations is that there is a sense all around that a long-term growth rate of 6.5 per cent for India