Interview with Mr Paritosh Basu

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Interview with Mr Paritosh Basu

Q. Do you believe the days of high GDP growth rate are a thing of the past and that India must come to terms with Hindu Growth rate levels?
I do not agree with this statement. On the contrary I think India’s rate of growth in GDP is still better than many countries and will again traverse the path of higher trajectory. I expect that it will again reach the level what we saw during fiscal 2008 -10 within next three to four years. Indian psyche got used to higher GDP rate when our economy defied the global trend and achieved higher growth rate even post global economic disaster of 2008. It was difficult for our countrymen to accept the downturn and the present rate of around 4.8%.

Q. Could you comment on the trajectory policy measures adopted by the government for growth and whether it has a meaningful direction that goes beyond the obvious political connotations?
It is beyond doubt that India had experienced relatively inefficient management of federal economy from mid of fiscal 2011 to carly 2013, badly blemished by major corruption charges and stalling of Parliament. The economy in terms of overall analysis was in a state of VUCA, which is popularly explained as the state Volatility, Uncertainty, Complexity and Ambiguity. However, in last about twelve months we have seen several green shoots and promises for turnaround, consequent upon certain policy measures and executive actions by the GoI. In actual terms both CAD has significantly been brought down and Fiscal Deficit is likely to be restricted within the promised range.
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