Sir — This refers to the editorial, “Starting up growth” (January 30). India hopes to reclaim its bragging rights as the world’s fastest growing economy next year with growth projected between seven to 7.5 per cent, pulling ahead of China, which has forecast a figure of 6.5-6.8 per cent. The big picture presented by the survey is of an economy that is becoming increasingly tax compliant, and is poised for growth, although there are challenges when it comes to both consumption-driven growth and increasing private investment.
However, the survey also marks out that this growth is precarious, and can come undone if global crude oil prices record an upward trend. A rise in crude oil prices can be foiled, to some extent, provided the Government aggressively pushes ahead with course-correction blueprint. More importantly, the survey has rightly sought policy focus on three key sectors — education, employment and agriculture. The last two sectors are also politically crucial and their revival would depend on huge public investments. It’s now up to the Finance Minister and the Union Budget.