India is undergoing a period of sustained rise in its economic fortunes. The pandemic was a blip, which our country set aside, thanks to the efficacy of locally developed and produced vaccines, and the success of India’s vaccination program, which was the world’s largest free vaccination exercise.
Today, India is the fastest growing large economy. The central government predicts 6-6.8% GDP growth for India in the upcoming financial year. Various credit rating agencies and observers reckon the economy will grow 6-7% in 2023-24. India aims at achieving 7% growth this year and expects the growth rate to improve in the next five years. India’s economic growth would stay in the 7-9% range at least for a decade and a half, as per its policymakers.
But what is important is that India has been able to democratize economic growth by making the fruits of progress accessible to people at the very end of the queue. As per India’s Economic Survey of 2022-23, more than four hundred million Indians escaped poverty between 2005-06 and 2019-21. This has been made possible by pro-poor governance and a focus on delivering impact on a large scale, in a time-bound manner.
Read More at https://www.firstpost.com/opinion/how-good-governance-and-focus-on-service-delivery-helped-india-pull-400-million-people-out-of-poverty-12200912.html/amp
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