If we analyses the various economic outcomes for selected Asian countries we find that many of them ...........

Economic Affairs Others

If we analyses the various economic outcomes for selected Asian countries, we find that many of them witnessed initial ‘take offs’ from low economic growth into periods of high growth. If this year for China was 1967, what could be the possible take off year for India as sometimes suggested by the Economic Surveys?

1975

1980

1991

2007

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Explanation:

Based on IMF data (2006) the dates are 1979, 1973, and 1967 for China, Indonesia, and Korea respectively. For India, taking the year of takeoff as 1991, when major economic reforms began, the following narrative is clear as given below:

India was growing at similar rates as other Asian economies before takeoff. After takeoff, it kept pace with Indonesia, but China and Korea grew faster.
After 1991, industrial growth which had slumbered earlier revived significantly, the after effects of which could be seen even in the 2000s.
The reforms liberated the services and external sector which drove India’s growth story in the coming decades.