The Lost Decade by Pooja Mehra audiobook

The Lost Decade

By Pooja Mehra

Random House Audio 9780670091836
11.90 Hours Unabridged
Format: Digital Download (In Stock)
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    ISBN: 9780143498568

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Before the global financial meltdown of 2008, India's economy was thriving and its GDP growth was cruising at an impressive 8.8 per cent. The economic boom impacted a large section of Indians, even if unequally. With sustained high growth over an extended period, India could have achieved what economists call a 'take-off' (rapid and self-sustained GDP growth). The global financial meltdown disrupted this momentum in 2008. In the decade that followed, each time the country's economy came close to returning to that growth trajectory, political events knocked it off course. In 2019, India's GDP is growing at the rate of 7 per cent, making it the fastest-growing major economy in the world, but little on the ground suggests that Indians are actually better off. Economic discontent and insecurity are on the rise, farmers are restive and land-owning classes are demanding quotas in government jobs. The middle class is palpably disaffected, the informal economy is struggling and big businesses are no longer expanding aggressively. India is not the star it was in 2008 and in effect, the 'India growth story' has devolved into 'growth without a story'. The Lost Decade tells the story of the slide and examines the political context in which the Indian economy failed to recover lost momentum.

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Summary

Summary

Before the global financial meltdown of 2008, India's economy was thriving and its
GDP growth was cruising at an impressive 8.8 per cent. The economic boom impacted
a large section of Indians, even if unequally. With sustained high growth over an extended
period, India could have achieved what economists call a 'take-off' (rapid and
self-sustained GDP growth). The global financial meltdown disrupted this
momentum in 2008.
In the decade that followed, each time the country's economy came close to returning
to that growth trajectory, political events knocked it off course.
In 2019, India's GDP is growing at the rate of 7 per cent, making it the fastest-growing
major economy in the world, but little on the ground suggests that Indians are actually
better off. Economic discontent and insecurity are on the rise, farmers are restive and
land-owning classes are demanding quotas in government jobs. The middle
class is palpably disaffected, the informal economy is struggling and big businesses
are no longer expanding aggressively.
India is not the star it was in 2008 and in effect, the 'India growth story' has devolved
into 'growth without a story'. The Lost Decade tells the story of the slide
and examines the political context in which the Indian economy failed to recover
lost momentum.

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Author

Author Bio: Pooja Mehra

Author Bio: Pooja Mehra

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Details

Details

Available Formats : Digital Download
Category: Nonfiction/Political Science
Runtime: 11.90
Audience: Adult
Language: English