OECD Economics Department Working Papers
Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
- Forthcoming titles
- ISSN: 18151973 (online)
- https://doi.org/10.1787/18151973
Can India Achieve Double-digit growth ?
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries. Prudent macroeconomic policies will be critical to prolonging the current expansion, given the risks associated with high inflation and volatile capital flows. A steadfast commitment to fiscal consolidation is needed to continue to reduce the large deficit that emerged in the aftermath of the slowdown and avoid crowding out private investment. Stepping up structural reforms will also be necessary if double-digit growth rates are to be achievable over the coming decade or so. Indeed, the operating environment for private business remains challenging. While infrastructure is improving in key sectors, partly thanks to greater private investment, bottlenecks endure and efforts to intensify competition and ensure continued strong investment are required. Labour market reforms are also required to promote job creation. Rapid economic development has boosted living standards and reduced poverty but poverty remains high. There is a need to strengthen social welfare systems and access to health and education to ensure widespread benefits from continued high growth.
This Working Paper relates to the 2011 OECD Economic Survey of India (www.oecd.org/eco/surveys/india)
Keywords: product market regulation, poverty, labour market, inflation, demographics, India, investment, competition, saving, macroeconomic policies, growth, education, infrastructure, health
JEL:
L93: Industrial Organization / Industry Studies: Transportation and Utilities / Air Transportation;
L50: Industrial Organization / Regulation and Industrial Policy / Regulation and Industrial Policy: General;
E21: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Macroeconomics: Consumption; Saving; Wealth;
E02: Macroeconomics and Monetary Economics / General / Institutions and the Macroeconomy;
L96: Industrial Organization / Industry Studies: Transportation and Utilities / Telecommunications;
I31: Health, Education, and Welfare / Welfare, Well-Being, and Poverty / General Welfare; Well-Being;
N15: Economic History / Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations / Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Asia including Middle East;
L98: Industrial Organization / Industry Studies: Transportation and Utilities / Industry Studies: Utilities and Transportation: Government Policy;
E66: Macroeconomics and Monetary Economics / Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook / General Outlook and Conditions;
E27: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications;
J24: Labor and Demographic Economics / Demand and Supply of Labor / Human Capital; Skills; Occupational Choice; Labor Productivity;
E22: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Investment; Capital; Intangible Capital; Capacity;
E23: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Macroeconomics: Production;
O47: Economic Development, Innovation, Technological Change, and Growth / Economic Growth and Aggregate Productivity / Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence;
O53: Economic Development, Innovation, Technological Change, and Growth / Economywide Country Studies / Economywide Country Studies: Asia including Middle East;
J68: Labor and Demographic Economics / Mobility, Unemployment, Vacancies, and Immigrant Workers / Mobility, Unemployment, and Vacancies: Public Policy;
O43: Economic Development, Innovation, Technological Change, and Growth / Economic Growth and Aggregate Productivity / Institutions and Growth;
O11: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Macroeconomic Analyses of Economic Development;
N75: Economic History / Transport, Trade, Energy, Technology, and Other Services / Economic History: Transport, Trade, Energy, Technology, and Other Services: Asia including Middle East
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