We have come a long way from the growth of 3-3.5 per cent growth in 1950s, to around 5.5 per cent in 1980s, 5.8 per cent in 1990s, and most recently to a sustainable growth path of around 8.5 per cent plus (Table 1).
But, what is even more striking is the fact that if we take into account the decline in the rate of population growth from 2.2 per cent for 40 years during 1960-90 to 1.8 per cent in the 1990s and further down to 1.6 per cent currently, the growth in per capita GDP has seen a tremendous push from around 1.6 per cent a year in the 1950s to around 7 per cent per year now.