Growth is very important for uplifting the lives of people, says CEA Krishnamurthy Subramanian

CNBC-TV18 complete 20 years this year. In these momentous 20 years, the Indian economy has growth from a gross domestic product (GDP) of USD 476 billion in 2000 to at least USD 2900 billion economy today; that is a growth of 10 percent compounded annual growth rate (CAGR) in nominal terms and about 7.5 percent in real terms. Total bank deposits have grown from Rs 8.5 lakh crore in April 2000 to Rs 130 lakh crore today, a compounded annual growth of 15.4 percent for these 19 years. Private Banks had a 10 percent share of bank deposits way back in 2000; today their share is 28 percent. In fact last year private banks gave a total of Rs 7.3 lakh crore in loans nearly three times as much as loans given by public sector banks. In this special show, House of Policy, we look at various aspects of India over the 20 years that we have reported and to comment on these momentous 20 years we have none other than the Chief Economic Advisor (CEA) Krishnamurthy Subramanian.