India climbs the welfare ladder

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Title: India climbs the welfare ladder
Author: Herrala, Risto
Organization: Bank of Finland
Series: Bank of Finland Bulletin. Blog
Year of publication: 2019
Publication date: 23.1.2019
Pages: 4
Subject (yso): taloudellinen kehitys; talouskasvu; bruttokansantuote
Keywords: Intia; talousuudistukset
Other keywords: catching up; economic reforms; Indian economy; BOFIT
Abstract: 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.
Note: BOFIT-blogi

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