The best performance was between 2005-06 and 2010-11 when the GDP grew by 8.7% showing clearly what the potential growth rate of India was. The recent decline in growth rate which started even before the advent of COVID-19 should make policymakers reflect and introspect. With the decline in growth rate since then and with a negative growth in 2020-21, this trend must have reversed, i.e. Had the growth trend seen up to 2011-12 continued, we would have an unqualified answer to the impact of reforms on growth. It is the decline in investment rate of nearly five percentage points since 2010-11 that has led to the progressive decline of the growth rate.

Source: The Hindu August 13, 2021 18:33 UTC