Growth sans 'big bang' reforms

India's economic resilience shows incremental reforms are more effective

The Indian economy’s recovery after the Covid shock of 2020-21 has been remarkable. Who would have thought India’s gross domestic product (GDP) growth would exceed 7 per cent thereafter for three consecutive years? There is now the prospect of achieving a 7 per cent growth in 2024-25 as well. 

 The growth of 9 per cent in 2021-22 is understandable.  It represents a bouncing back from the decline in GDP in the previous year. The surprise is the growth rates of 7 per cent in the next two years. These growth rates, remember, have happened under adverse international conditions.

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