Rejigging the Elephant Dance

India's development challenges. The India growth story was thrown off track by the global financial crisis which engulfed virtually every country in the world. We recovered from the crisis sooner than other countries, but the growth rate is yet to reach the pre-crisis level. There is widespread anxiety that we may have got derailed from the high growth trajectory, and a number of questions are being asked. Is our growth story faltering? Has India’s potential growth rate declined because of the crisis? Are the growth drivers that worked our way during 2003-08 still intact? When will we reach double digit growth, and what indeed should we be doing to achieve that? [Haksar Memorial Lecture at the Centre for Research in Rural & Industrial Development, Chandigarh]. URL:[http://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/RED251111F.pdf].