India 2020

HindustanTimes-Print Page 1 of 2 KK Birla May 09, 2007 First Published: 00:44 IST(9/5/2007) Last Updated: 03:48 IST(9/5/2007) India 2020 The Indian economic system is on the path of rapid progress. In July 1991 the countrys economy was so shattered that India was on the brink of bankruptcy. The sexual congress won in the general elections of June 1991 and Narasimha Rao became Prime Minister. He took a wise step and do Manmohan Singh the Finance Minister who, in turn, opened up the economy to the private sphere. The quantum of progress that India has make from 1991 to 2007 has not been achieved by any other country. It is a indemnity to both the government and the business community. It will be an enkindle study to present to my readers a picture of India as it may emerge by March 2020. An attempt has been made to esteem the situation in a methodical manner, and not coddle in kite-flying and guess-work. But in order to study and look what shape the economy will take by 2020, real assumptions have had to be made. I have made two main assumptions. The low gear on jade laws. In India, ram laws were framed soon after Independence and became outdated a long time ago. India is perhaps the only country where so many restrictions exist on retrenchment of additional labour force.

It is sad that the government is not permitting the industry to reduce surplus labour. Labour laws have not been liberalised only for political considerations. My first assumption is that labour laws in India will be liberalised. I may mention that in China there be no such rigorous labour laws as overriding in India. The second assumption I have made is that oil prices will float at around $ 70 per barrel. The way India has progressed post-liberalisation, the GDP growth should be around 8.5 per cent on the average. The growth in the industrial sector should be about 9.9 per cent, about 9.4 per cent in the services sector and 3.9 per cent in the agricultural sector. In the last quartette years,... If you want to get a full essay, order it on our website: Orderessay

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