New Delhi, Jan. 29 -- India needs sustained long-term growth to pull people out of poverty, create jobs for the young, and boost incomes to widen the consumption base. I have long considered India's potential real GDP growth rate to be 6% to 6.5% (6.2% is the average since 1980).

This pace of growth, though twice that of global GDP, may not be enough to achieve India's aspirations of becoming a middle-income country and creating meaningful jobs for its youth.

Can India sustain more than 7% growth over a long period? In the past, the answer to this question would have depended on when it was asked:

In the 1980s, the hopeful answer would have been 5%.In the '90s, after liberalisation, there were hopes of a sustainable 6% growth rate.Duri...