The author investigates whether the proposed reforms in India’s financial, energy and retail sectors really make a difference to the economy which many have said has ‘bottomed out’ this fiscal year.
By Yayaati Joshi, 12th March 2013
To begin with, I deem it appropriate to describe the proposed reforms and the purported merits of those reforms in the financial, energy and retail sectors of India, and mention briefly, the state of the affairs of the Indian economy. The growth of the GDP in the last 5 years has been less than encouraging, to say the least. Looking at the trend of the GDP from 2004—that’s when the Prime Minister Manmohan Singh, the key figure of the 1991 Economic Reform, has been shouldering the responsibility of running the country—it has resembled a sine curve, with the crests and troughs rising and falling dramatically in 2010 onwards.
