Elephant Racing Ahead!

Economy & Policy

Today has been budget day in New Delhi. Projected to be the world’s larghest country in terms of population in a few decades, the economy of India has also benefited enormously from the liberal reforms of the last decade.

But more is needed, and the new Singh government want to increase the growth rate from the7 % of today towards a sustained growth around 10 %, which IMF and others conside perfectly possible given the right policies.

Todays budget brings a number of tax changes and opens up theecoomy further to foreign investment and trade. It looks good, and the Indian stock market accordingly soared after having seen the details.

I’m certain China takes note – and we should as well.

4 Responses to Elephant Racing Ahead!

  1. Blogbluddle skriver:

    The city of New Dehli speaks for itself. Streets as muddy, houses as dirty as in any ghetto in the third world, worse than one can imagine, and with a fast growing population of the poorest of poor that ensures status quo for the masses forever.

  2. Carl Bildt skriver:

    India has had only little more than a decade of serious liberal economic reform, and is already emerging as a global powerhouse in some sectors.

    There is much to be done – the infrastructure is awful.

    But you should compare India today to China in the late 1980’s – roughly a decade after they started to seriously open up their economy.

    That’s my point – there is a dynamism in economic development in India that we neglect at our peril.

    It’s another China – at the least.

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