Thursday, 27 December 2018 08:33

An economic strategy for India; here is what government must look into.

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The report by a couple of economists including the ex-Chief Economic Adviser Shri. Arvind subhramaniam, begins by noting that India’s economy has performed well in absolute and relative terms, for the last quarter century. But then it opines that India can and must do better. That is the motivation for this outline of a strategy: what should be done? This column, in summarizing some of the report’s answers, will also offer some thoughts on how components of the strategy might be implemented, and what the difficulties might be, along with a few differences of opinion and emphasis.

 A couple of central motivators for the report’s approach are the need to create more “good” jobs more rapidly than India has managed so far, and the need to deal with burgeoning environmental problems that could destroy everything that India has achieved in terms of improving the average well-being of its citizens. These are well-known issues, but can never be emphasized enough. Failures of successive governments on both fronts are a rebuke to India’s leaders and elites, and a reminder of the gaps in India’s economic progress.

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