India in 2004
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Case Code: ECOA118 Case Length: 22 Pages Period: 2004 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : India Themes: - |
Abstract Case Intro 1 Excerpts
The CMP (Common Minimum Program) is less ambitious than congress's economic manifesto. But its admirable goals - annual growth of 7-8%, alleviating poverty, helping farmers, empowering women, raising spending on health and education and so on are so vaguely represented that it is like a child's letter to Santa Claus. Everybody can pick up a desired outcome from the list and believe that Christmas is coming.
Introduction
In early 2004, with the Indian economy growing at 8% a year, Indian politicians, businessmen, diplomats and journalists were displaying a new sense of self-confidence. India's hour seemed to have arrived. For a decade, the economy had seen average real growth in GDP of less than 6% a year. It seemed the country was about to take off on a much more rapid growth rate of around 8% a year. Foreign exchange reserves at more than $100 billion, had reached record levels. The stock market had recorded its biggest annual rise in 12 years. Inflation and interest rates were low. The current account was more or less in balance. The country was riding the wave of globalization of services, led by the computer software industry...
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