Dual Digit GDP for Indian Economy?

Indian Economy is growing and likely to see the GDP at 8 per cent by 2011. Once, it was expected to achieve the dual digit GDP. But the collapse of the market and economy shrinking into the global slowdown made this impossible. Achieving the double digit GDP is possible, however need to get the sustain growth from all the sectors of the economy. Experts believe that the Indian economy is recovering from the clutches of the economic slowdown. The current GDP rate is between 6 to 7.5 per cent.

The GDP growth of around 6-7.5 per cent is very impressive, despite the economy was gone through the phase of slowdown for almost one year. The Indian economy has been growing fast but the contribution from its primary sectors is big concern. The rising food inflation may be due to the bottleneck and not will give any relief to the farmers. The contribution from the service sector is high and it will give further boost to the economy in the years to come. Thinking for double digit GDP growth is too much optimistic approach for Indian economy. However, the fact can't be denied that still the target of double digit GDP is possible, but many in next five years.