Indian Entrepreneurs Are Not Sustaining The Country's Growth: RBI Governor
Bangalore: Former RBI governor Bimal Jalan has said that it is a paradox that India could not sustain the high growth rate the country experienced in the 2004-09 period, with the same people and the same entrepreneurs, at a talk hosted at New Delhi recently.
Jalan said that after the growth has slowed down, the country witnessed many scams too which coupled to give the GDP a sharp decline in 2008-09 itself to 6.7 percent, from at least 9 percent growth in the preceding three years. After that the growth did revive --to 8.6 percent in 2009-10 and 9.3 percent a year later. But, that could not be sustained and the growth fell again to 6.2 per cent in 2011-12. For 2013-14, the budget had assumed the growth of 6.4 per cent.
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