ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Myths and Reality

Growth in the Time of UPA

This article challenges the prevailing view that the diminished electoral prospects of the United Progressive Alliance government is the result of neglecting growth to launch populist welfare schemes. It looks at a wide range of economic indicators to argue that compared to the National Democratic Alliance regime, the UPA period has been characterised by faster growth, higher savings and investment, growing foreign trade and capital infl ows, and increased infrastructure spending in partnership with private capital. The UPA's political troubles arise not from policies that hurt growth but from an inability to tackle the consequences of accelerated economic growth - increased conflict over land, rent seeking and corruption in the booming infrastructure and natural resource sectors, inability of public education to keep up with increased demand and rising aspirations, and poor delivery of welfare schemes made possible by growing revenues.



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