India: the mirage of growth

Source: Hinduon Net

“The Indian economy has witnessed tremendous growth recently, but millions of people have been left untouched; some may have even been made worse off. In spite of the rapid population growth, the proportion of people below the poverty line has been coming down over the decades. The question is whether faster growth (claimed to be the result of the economic reforms started in the early 1990s) has led to faster decline in the proportion of the population below the poverty line.

Poverty declined by 8.9 percentage points in the pre-reform period and 7.8 percentage points in the post-reform period. But over a third of the population still remains in poverty in spite of growth rates that are claimed to be spectacular. The per capita availability of foodgrains has increased only about 10 percent since 1950.”

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Filed under Growth, India, Inequality

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