Econintersect : Econintersect has published an IMF report of G 20 GDP. For the current fiscal per official projections,India GDP growth rate is projected to exceed China's GDP growth rate by a small percentage. Is this a miracle? President Emeritus of National Bureau of Economic Research and Harvard University professor Martin Feldstein believes that the Indian Growth is a miracle.
In an interview with the Economic Times, India, Professor Martin Feldstein has discussed wide ranging economic issues. He is not very hopeful of Europe and calls it a mess. He is cautiously optimistic on US and believes that China will continue to grow. But he is puzzled and calls Indian growth a miracle.
"I say to people who know that I am a big fan of India is, that it is something of a miracle that India works as well as it does, and it is growing as well as it does."
The Professor is being polite. A country that totters from one crisis to another it seems perpetually on the edge of chaos. A democracy with all the trappings of bollywood movies; nothing just seems to happen, consensus on any issue is difficult. The latest brouhahaon Railway budget is one of the most colorful soap opera ever witnessed.
Will India continue to grow or will it morph to the proverbial Indian Rope trick?
Written by Sanjeev Kulkarni