• ISBN13: 9788126941476
• Binding: Paperback
• Subject: Economics
• Publisher: Atlantic Publishers & Distributors (P) Ltd
• Publisher Imprint: Atlantic
• Publication Date: July 28, 2025
• Pages: 288
• Original Price: INR 795.0
• Language: English
• Edition: N/A
• Item Weight: 350 grams
• BISAC Subject(s): N/A

Dividing India's growth experience into distinct phases, India's Growth Narrative: Performance and Potential (1951-52 to 2050-51) argues that the lowest average growth of 3.5% during the late 60s and early 70s, which has often mistakenly been referred to as the 'Hindu Growth Rate' belongs to a socialist pattern phase of growth which was preceded by a colonial legacy phase. Subsequently, the Indian economy transitioned from a mixed economy phase to first reform, accelerating growth and global crises phases. Prospectively, India is projected to reach a stable growth of about 7.0%, which is more appropriately referred to as the 'Hindu Growth Rate' as it is consistent with saving and investment rates prescribed in India's ancient texts. After providing a phase-wise overview of the evolution of fiscal, monetary, financial and external sector policies, this book projects India's growth up to 2050-51. It shows how, within 100 years of the inception of the Constitution, India is slated to regain its past economic glory, reaching a Viksit status in a modern global economy.

"Dr D.K. Srivastava, with MA, MLitt and PhD degrees, is Chief Policy Advisor at EY India and Honorary Professor at Madras School of Economics (MSE). Serving as MSE's Director (2005-2012), he has taught at leading institutions. He advised the Tenth Finance Commission, consulted for the Eleventh, and was a member of the Twelfth. He chaired key committees and coauthored books, including Federalism and Fiscal Transfers in India.

Dr Muralikrishna Bharadwaj, with an MA and PhD in Economics from Sri Sathya Sai Institute of Higher Learning, has 14+ years of experience in macroeconomics and public finance. As Senior Manager at EY India, he collaborated on projects for governments, including Memorandum to the 15th Finance Commission for Jharkhand, Nepal's revenue mobilisation and Kuwait's subsidy reform. He has held research roles at Digital Insights, Infosys and IHS and published in leading journals.

Tarrung Kapur, with an MBA and MA in Economics from Sri Sathya Sai Institute of Higher Learning, has 14+ years of experience in macroeconomics, public finance and taxation. As Senior Manager at EY India, he contributed to projects like Memorandum to the 15th Finance Commission for Jharkhand, GST related research, Nepal's revenue mobilisation and Kuwait's subsidy reform. He has published peer-reviewed articles and worked at ICRA Management Consulting and Indicus Analytics.

Ragini Trehan, with a BA in Economics from Delhi University and an MA from Madras School of Economics (MSE), has over 10 years of experience. As Senior Manager at EY India, she handles public finance, fiscal policy and tax-related projects. Her contributions span research projects in India, Nepal, Romania and Kuwait. Apart from a part-time PhD in Economics underway at the Madras School of Economics (MSE), she has authored several research articles."

• Preface..................................................................... vii
• List of Tables........................................................... xi
• List of Charts.......................................................... xiii
• List of Mantras........................................................ xvii
• List of Shlokas......................................................... xix
• List of Sutras........................................................... xxi
• List of Boxes........................................................... xxiii
• 1. India’s Growth Phases: From Colonial Legacy to True Hindu Growth Rate........................................ 1
• 2. Early Growth: Colonial Legacy, Socialist Pattern and Mixed Economy Phases.................................... 7
• 3. India’s First Reform Phase: 1984-85 to 1997-98..... 29
• 4. Accelerating Growth Phase: 1998-99 to 2011-12.... 41
• 5. Global Crises Phase: 2012-13 to 2024-25............... 55
• 6. Structural Evolution of the Indian Economy: Formalization and Digitalization............................. 83
• 7. Stabilizing Hindu Growth Phase in Contemporary Times: 2025-26 to 2050-51..................................... 109
• 8. Restoring India’s Past Economic Glory.................... 141
• 9. Conclusions............................................................. 183
• References................................................................ 195
• List of Abbreviations............................................... 205
• Appendices.............................................................. 211
• Appendix 1: A note on initial reference to the Hindu Growth Rate................................................. 211
• Appendix 2: A Memorandum to the Government of India (1955) by Milton Friedman........................ 233
• Appendix 3: Actual and trend growth rates: GDP growth and investment rates (%)............................ 246
• Appendix 4: List of industries under Schedules A and B under the Industrial Policy Resolution of 1956................... 250
• About the Authors................................................... 253
• Index....................................................................... 257