View: 1991 reforms gave us miracle growth, but now it’s fading

In 1991, India’s capita income was just $360 a year, having been overtaken by several “miracle economies” of Asia growing at 7% per year or more. Three decades later, before Covid hit. India’s per capita income was up to $2,100. GDP had grown at 7% for two decades, making India a miracle economy too.

from Economy-News-Economic Times https://ift.tt/3rBEXX8