The Ten Trillion Dream Dented: The State of the Indian Economy and Reforms in Modi 2.0 (2019-2024)

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It is the aspiration of every Indian to live a good life. The measure of which is better health, education, housing and income. Only a developed economy can fulfil this aspiration of its people. India is a growing economy and dreams of becoming a $10 trillion economy. In The $10 Trillion Dream, the author provided the road map to fulfilling that dream. However, the performance of the Indian economy in the past few years seems to have shattered the $10 trillion dream. This book presents a comprehensive and critical analysis of the performance of the Indian economy under the Modi government from 2019 to 2024. It critically examines the policy measures taken by the government and identifies the reasons why India can’t become a $10 trillion economy by 2035. Foregrounded in rigorous research, The $10 Trillion Dream Dented is an unputdownable work that should encourage policymakers to rethink their approach to managing the Indian economy.

As a member of the Indian Administrative Service for more than thirty-six years, Subhash Chandra Garg was deeply involved in public administration, the execution of development programmes, managing state-level institutions, making Budgets both at state- and Central-government levels, and policymaking. He crafted many Budgets as the secretary, Budget; as finance secretary of the government of Rajasthan; as the secretary, economic affairs; and as the finance secretary to the Government of India. He served as the secretary, economic affairs, for a little over two years, from 2017 to 2019. After taking voluntary retirement from the IAS in October 2019, he now works as a policy observer, strategist, commentator and writer on important economic and financial policy issues with a focus on economic and fiscal affairs, and policy of India. Garg's first book, The $10 Trillion Dream: The State of the Indian Economy and the Policy Reforms Agenda, was published in February 2022. His second book, Subhash Chandra Garg's Explanation and Commentary on Budget 2022?23, includes the results and outcome of Budget 2021?22 and the implementation of Budget 2022?23, and develops a national standard for analysing and commenting on Central government budgets. He writes opinion editorials and columns for print and online news magazines, and speaks to think-tanks, educational institutions and investors regularly. He appears on television channels for discussions on economy, Budget and other public policy matters as well.

Subhash Chandra Garg

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