Book Discussion: 'The Lost Decade (2008-18): How India's Growth Story Devolved into Growth Without a Story' by Puja Mehra

Book Discussion: 'The Lost Decade (2008-18): How India's Growth Story Devolved into Growth Without a Story' by Puja Mehra
Puja Mehra, Rathin Roy, Nitin Desai, Rohit Chandra
Friday, 1 November 2019 Add to Calendar 2019-11-01 15:00:00 2019-11-01 17:00:00 Asia/Kolkata Book Discussion: 'The Lost Decade (2008-18): How India's Growth Story Devolved into Growth Without a Story' by Puja Mehra Speaker: Puja Mehra, Economic Journalist Discussants: Rathin Roy, Director, National Institute of Public Finance and Policy Nitin Desai, Former Chief Economic Advisor, Ministry of Finance Moderator: Rohit Chandra, Fellow, Centre for Policy Research   About the Discussion: 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.   Books will be available for sale at the venue. Please RSVP at president.cpr@cprindia.org. The seating at the venue can accommodate up to 60 people on a first come first serve basis. Conference Hall, Centre for Policy Research
3:00 pm to 5:00 pm
Conference Hall, Centre for Policy Research
Part 1: Discussion
Part 2: Q&A

Speaker:
Puja Mehra, Economic Journalist

Discussants:
Rathin Roy, Director, National Institute of Public Finance and Policy
Nitin Desai, Former Chief Economic Advisor, Ministry of Finance

Moderator:
Rohit Chandra, Fellow, Centre for Policy Research

 

About the Discussion:

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.  

Books will be available for sale at the venue.

Please RSVP at president.cpr@cprindia.org. The seating at the venue can accommodate up to 60 people on a first come first serve basis.