Author
The author is Chief Economic Advisor, FICCI. He is also the Visiting Scholar at the Institute of International Economic Policy, George Washington University
Bold and decisive actions are now needed not only to reduce the spread of the disease, but also to stem the free-falling economy and provide a safety net to people and business and commerce.
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The target of $1 trillion exports for a $5 trillion economy that has been recently adopted is excellent – but must now be matched by an ambitious industrial policy and a reform agenda.
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Many are predicting that the downturn is cyclical - they may be right. In any case the base effect, and the lower interest rates (despite the poor transmission) may help stem the decline to some extent.
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Whether India grows rapidly to $5 trillion by 2025 or thereabouts and possibly $10 trillion by 2035 will not only have a huge impact on the lives of 1.5 billion Indians - it will also have a huge impact on the roughly 9 billion citizens of the world.
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"I don’t want India to be an economic superpower, I want it to be a happy country” – J.R.D Tata
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It will become the third largest economy by 2030 – an economic superpower but also a happier country if its growth is inclusive and creates decent livelihood for 1.5 billion plus citizens
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With growing concerns over the use of data and privacy issues, there is a growing clamour for greater cyber regulation. The GDPR is one such
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The Modi government should focus on getting a genuine economic recovery and job creation. More such ill thought through, badly implemented and moralistic policy prescriptions will get us back to the Hindu growth rate of 3-4 per cent of the 1970's and 1980's. Now that would be ironic for a BJP government
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The developed world had earlier committed to provide climate finance - over and above the traditional ODA under the Copenhagen Consensus. But such a commitment appears also to be still unclear
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India must remember that the 1997 Asian financial crisis was exacerbated by tight monetary policy, forced on by IMF conditionality
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