How to Achieve 10% Growth
There were lot for discussions on how India can achieve higher levels of GDP growth. The days are not far off, when we will hear about India achieving 10% Economic growth like the performance of Chinese Economy.
In this crisis, India is better placed than other economies in terms of opportunities for growth and the stimulus which can come from both dometic and global factors.
What is required to achieve this growth level. The targets for growth has to be set for each sector and sub sector , Each state, Disctrict and Panchayat and the action plans to be identifed for each area. Once the action plans are identified, the organisation structure could be put in place to implement these action plans. At each level the scope for acheiving 10% growth and strategies for achieving 10% growth to be identified.
In India, many states are still growing at 3,4 and 5% and their growth rate could be aceelearated to 8 - 9%. Since our agricultural productivity is one of the lowest in the world, this sector offers lot of opportunities for improvement and it should not be difficult to look at a growth of not less than 6% and most of this growth would come from increasing in productivity at the farm level and the processing of foodgrains.
Industy, India is well poised to addressed the opportunities and already many of the high end work has started coming to India. Growth in R&D activities and Engineering can give a good boost. The report by Indias manufacturing council clearly brings out the Indias' competitiveness in manufacturing and scope for making India a manufacturing Giant. Already, India has become a small car manufacturing centre of the world.
To achieve this growth some basic conditions have to prevail. Easy Availability of funds for good projects at lower interest rates, stable currecny, low inflation , continuity of government policies, futher liberalisation, highe flow of foreign funds into India in the form of FDI flows and FII flows, higher level of adoption of IT across sectors and increased trade flow between the states in India.
In this crisis, India is better placed than other economies in terms of opportunities for growth and the stimulus which can come from both dometic and global factors.
What is required to achieve this growth level. The targets for growth has to be set for each sector and sub sector , Each state, Disctrict and Panchayat and the action plans to be identifed for each area. Once the action plans are identified, the organisation structure could be put in place to implement these action plans. At each level the scope for acheiving 10% growth and strategies for achieving 10% growth to be identified.
In India, many states are still growing at 3,4 and 5% and their growth rate could be aceelearated to 8 - 9%. Since our agricultural productivity is one of the lowest in the world, this sector offers lot of opportunities for improvement and it should not be difficult to look at a growth of not less than 6% and most of this growth would come from increasing in productivity at the farm level and the processing of foodgrains.
Industy, India is well poised to addressed the opportunities and already many of the high end work has started coming to India. Growth in R&D activities and Engineering can give a good boost. The report by Indias manufacturing council clearly brings out the Indias' competitiveness in manufacturing and scope for making India a manufacturing Giant. Already, India has become a small car manufacturing centre of the world.
To achieve this growth some basic conditions have to prevail. Easy Availability of funds for good projects at lower interest rates, stable currecny, low inflation , continuity of government policies, futher liberalisation, highe flow of foreign funds into India in the form of FDI flows and FII flows, higher level of adoption of IT across sectors and increased trade flow between the states in India.
