Economic growth in the first United Progressive Alliance (UPA), headed by Dr Manmohan Singh, averaged 8.4% between 2004-04 and 2008-09, and then the financial crisis hit. Three stimulus measures in response to the crisis supported growth for the first two years of UPA-II, but then it came down sharply. The sovereign debt crisis in Europe in 2011 further created macroeconomic imbalances.
The growth in UPA-I was supported by a positive global environment. Private corporate investment more than doubled to 14.3% of the GDP in 2007-08, from 6% in 2003-04. After the financial crisis, this figure dipped again. The high growth brought down the fiscal deficit to 2.5% of the GDP from 4.3% in 2003-04.
Denne historien er fra December 28, 2024-utgaven av Financial Express Hyderabad.
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Denne historien er fra December 28, 2024-utgaven av Financial Express Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Rupee at lifetime low as equities slide; tilt bearish
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PSBs' share in 'fair value' investments declines, private banks report gains
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Bank shares plunge up to 8% amid weak business updates
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Former executives at OYO, upGrad launch mobility platform
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Adani Group lines up petchem foray
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RIL arm launches Raskik Gluco Energy drink, adding fizz to hydration market
● Beverage to rival Tata Consumer, Dabur products
Auto ancillary firms aim US push with Trump's policies
TRUMP TAILWIND
Sterlite Grid 32 gets over ₹2,400 cr via listed NCDs
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Will not rush in bringing Digital India Act
The rules to implement Digital Personal Data Protection (DPDP) Act was released last week for stakeholder consultation.
