India is among the world’s fastest growing economies (after China) having recorded a decadal growth rate of 7.8 percent during FY 03-FY 12. It embarked on this high growth trajectory during the 10th Five Year Plan with a growth rate of more than 8 percent in FY 04 and reached a peak of 9.6 percent in FY 07. The growth in the 11th Five Year Plan also made several headlines for being the highest five year plan growth ever in India.