10 hrs ago
India’s Economic Growth Is Visible Across Multiple Engines
The article says India’s economic growth can be seen in many parts of daily life.
More roads, airports, trains and electricity have been built.
Banks are lending more money after reducing their bad loans.
More homes now have tap water and toilets.
India has also added medical colleges and seats for future doctors.
Millions of people have reportedly moved out of extreme poverty.
New industries, such as electronics and semiconductors, are developing.
The writer says people who ask where the growth is may be overlooking these changes.
The article argues that India’s growth is evident in rising output, exports, investment, profits, credit and infrastructure.
Nominal economic output reportedly increased from about Rs 124 lakh crore to around Rs 346 lakh crore in a decade.
Railways, highways, airports, metro systems, freight corridors and electricity capacity expanded substantially during the period.
The article links growth with wider access to tap water, sanitation, medical education, digital payments and reduced extreme poverty.
It argues that India’s economy has several growth engines, including manufacturing, electronics, renewables, defence, aviation, pharmaceuticals and semiconductors.
- Who
- The Indian economy, its businesses and institutions, and people questioning whether growth is broadly visible.
- What
- An opinion article argues that India’s economic growth is broad-based and visible across infrastructure, finance, manufacturing, public services and new industries.
- Where
- Across India, including its railways, highways, airports, rural areas, factories and financial system.
- When
- The comparisons mainly cover the past decade, with some poverty figures spanning 2011-12 to 2022-23.
- Why
- The writer responds to recurring claims that India’s growth is limited, unreal or concentrated in only a few sectors.
Growth Skeptics
Growth Advocates
Whether growth is real and broad-based
Growth Skeptics
Skeptics cited in the article question whether headline growth reflects real improvements and argue that some gains may be limited to selected sectors or the stock market.
Growth Advocates
The writer points to higher output, exports, credit, corporate profits, infrastructure, manufacturing and new industries as evidence of broad-based growth.
Infrastructure and public programs
Growth Skeptics
Critics argue that infrastructure projects and government schemes do not necessarily demonstrate economic growth or show what ordinary people can do with them.
Growth Advocates
The article presents expanded railways, roads, airports, electricity, tap water, sanitation and medical education as practical forms of economic progress.
India’s growth model
Growth Skeptics
The skeptical view described in the article continues to ask where growth is despite improvements in individual quarters or sectors.
Growth Advocates
The writer argues that India differs from economies focused heavily on artificial intelligence because it has multiple growth engines, including technology, manufacturing, finance, renewables, defence and construction.
Key facts
- Nominal output
- Reportedly rose from about Rs 124 lakh crore to around Rs 346 lakh crore in a decade.
- Exports
- Reached roughly $860 billion, according to the article.
- Railway electrification
- Broad-gauge electrification reached 99.6%, compared with roughly one-fifth seven decades earlier.
- National highways
- Expanded from 91,287 kilometres to 1,46,572 kilometres.
- Airports
- The number increased from 74 to 165.
- Rural tap water
- Access reportedly increased from 17% of rural homes to more than 80%.
- Extreme poverty
- The World Bank count cited in the article fell from 27.1% in 2011-12 to 5.3% in 2022-23.
- Digital payments
- India’s payments system now handles roughly half of global real-time digital transactions, according to the article.
Quotes
Economic skeptics
People described by the article as repeatedly questioning the visibility of India’s economic growth
“But where is the growth?”
thestatesman.com
Article’s author
Economist and finance professor who wrote the article
“That is growth. What else would it be?”
thestatesman.com
Sources
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