Widening Regional Disparities in India
نویسنده
چکیده
Indian economy has been experiencing an average annual rate of growth of around 6 per cent since the early 1980s. Though, moderate compared to the performance of several east Asian economies during the same period, this was quite impressive compared to the performance of Indian economy during the preceding three decades when the average growth logged 3.5 per cent per annum. In terms of per capita income, the improvement has been even more remarkable around 4 per cent per annum in the recent period as compared to less than 1.5 per cent in the earlier period. Further, during the recent period, there has been a steady acceleration in the growth performance over the years. The average compound growth per annum was 5.7 per cent during the Sixth Five Year Plan (1980-85), 6.0 per cent during the Seventh Plan (1985-90) and 6.6 per cent during the Eighth Plan (1992-97). While the growth rate dropped to 3.1 per cent during the two year period 1990-92 in the wake of international payment crisis and the introduction of major economic reforms, the growth process picked up fast in the subsequent years. Indeed, the growth averaged about 7.5 per cent during the three year period ending 1996-97 which is impressive by any standards. The growth rate was somewhat lower in the subsequent two years. In contrast to stagnation/negative growth of most of the east Asian economies India’s performance, however, is remarkable.
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