Media is full of news reports quoting Finance Minister Arun Jaitley that the Indian economy is in a robust state of revival. “Indian economy can double its size in the next three to three and a half years”, claimed another Union Minister Suresh Prabhu. The last month an IMF report claimed that the Indian economy was on the path to be the fastest growing in the world (growth rate estimate – 7.5 percent) for the second consecutive year in FY 2016. Extreme volatility at the Sensex, crashing gold prices and a dipping INR exchange rate tell us a different story altogether. To understand this seeming contradiction, let us take a look at the key indicators of economic growth and see whether the predicted growth of the nation is a mere perception.

The Indian government has come up with the One Rank One Pension (OROP) in what is being seen as a final effort to get the attention of the defence community of the country – at the present moment there are 14 lakh soldiers and officers serving in various capacities in different wings of the national armed forces. There are also in excess of 25 lakh military officers in India who have retired. Incidentally, this has been demanded for a long time now and has also been promised but till now it had not been implemented. This is also being regarded as an important step taken by the ruling government before the national assembly elections come calling a few months later.