(The article first appeared in Indian Express on April 20, 2023)
Cyclical upturns and downturns aside, India now has an established track record of high growth. In the decade leading up to the Covid-19 pandemic, our average annual GDP growth was 6.6 per cent compared with 6.3 per cent in the preceding decade. Of course, there have been times when India grew close to 8 per cent per year, most notably between fiscals 2004 and 2008. But these were episodes of “growth sprint”…