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At About 5–6%, Economy Won’t Collapse But It Won’t Generate Enough Jobs: Montek Singh Ahluwalia

Economist and former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia tells Neeraj Thakur that a private sector-led economy can deliver sustained GDP growth in the country. However, he is not enthused about the much-touted double-digit growth or even a range of 7–7.5% and cautions against protectionism

Photo: Vikram Sharma

There was a time in the 1990s when India aimed at attaining double-digit growth following the liberalisation of economy. Between 1979 and 2018, China grew at an average rate of 9.5%, whereas India remained at just about 6% to 7%. What were the shortcomings for India?