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The evidence clearly shows that economic growth is the best tool to lift people out of poverty and improve the quality of life for everyone. Until 1991, India’s poverty rate remained unchanged at ~50%. Post reforms, poverty reduced from ~50% to ~20% with 35 crore (350 million) fewer people living in abject poverty. Since 2010, sustaining fast growth has been challenging as the easy gains have been realised. It is critical for India to maintain a growth rate of over 10% for long periods of time if we want Indians’ quality of life to improve rapidly and sustainably.
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