IIPM BEST MBA INSTITUTE

IIPM PUBLICATION 
Yes, the current economic indicators do give us hope, but to keep alive the hopes of eradicating poverty (which has increasingly captured a pitiably massive 400 million Indians in its grasp: UNDP figures), India not only needs to sustain GDP growth rates above 8% for the next 10-15 years at a stretch, but also needs to implement a radical economic reengineering paradigm that facilitates a cross sectional improvement in health, literacy, education levels, perhaps with a larger emphasis on the majority of the disadvantaged masses. Therefore, more important than accomplishing just healthy figures is the consistency of performance for long-term sustainability of India, just as P. Chidambaram, hopefully expresses as, ”...our economy is growing and I hope it will grow at 9%. We hope to maintain this growth for the next five to ten years...”. . It is indeed good news that despite the unprecedented rise in global oil prices, India has been able to retain its annual economic growth rate at around 8% for the past three years and is continuing on the winning path. Although, the exorbitant fuel prices have had an adverse impact on inflation. Consumer prices have increased phenomenally in the recent past – today, the annual rate of inflation is between 6 and 7%. More importantly, the wholesale price index stood at 5.45% in the 12 month period till November 18. 

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Source : IIPM Editorial, 2006

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative