Short- and long-term prospects of Indian economic growth: a dispassionate analysis

After a prolonged period of underperformance, Indian economy picked up some momentum during the decades of the 1980s and 1990s. After 2000, it even had a period of stellar economic growth and the real GDP growth rate came tantalisingly close to double digit. Myriad domestic and global economic factors coalesced to drive GDP growth down in 2008. Reform implementation remained sluggish and incomplete and there are several areas of long-term economic limitations that have not been addressed by policy makers. This paper puts forth several reasons why questioning the sustainability of 9% GDP growth is absolutely rational.