India climbs the welfare ladder
Herrala, Risto (23.01.2019)
JulkaisusarjaBank of Finland Bulletin. Blog
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201901251046
India’s on a roll. Agreed, there are the usual complaints from its detractors about rampant corruption, slow progress in structural reforms, red tape and a lack of fiscal discipline, but it’s hard to argue with India’s macroeconomic performance – a booming economy with modest inflation. More importantly, India’s recipe for growth delivers strong performance year in and year out. GDP growth has averaged over 7% per annum over the past two decades, translating into almost six percent more income for its young, expanding population every year.