Author
The author is a senior economist, columnist, author and a votary of inclusive development
The mobilisation and synthesis of resources like land, labour and capital worked in the early stage of our growth trajectory and pulled several millions out of abject poverty.
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While the leadership is motivated to eradicate corruption, the effort is often driven by normative considerations, on one hand, a perceived need to ‘demonstrate’ a tough stand to the voters on the other.
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‘Nudging’ can be a double-edged sword. The message must be pragmatic, not Machiavellian. Policymakers must be prudent, promote and ensure ethical behaviour.
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The PM must appoint an agri ‘enabler’ supported by a team of doers and thinkers that designs a holistic institutional framework, without which the opportunities from this legislation will fritter away.
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The regulator must address issue related to competition or lack of it. Competition, transparency, and innovation are the bedrock of a fair business milieu.
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The real culprit is the design. Designing policies is not exactly rocket science. It involves deep domain knowledge, appreciation of the ground realities, some degree of judgement, clarity of goals, understanding of the multi-forces that shape its implementation and above all humility.
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The policymakers must streamline, bundle schemes into a core set of flagship programs and provide the local authorities an element of choice and flexibility for effective implementation.
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Today economy and democracy are coupled and cannot be left to generalists who do not understand it adequately. India needs a revamped cadre of ‘Indian economic service’, with ‘service and impact’ as the defining words.
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PSUs need to be privatised. If that is not palatable, they need full autonomy. Status quo will mean few dying suddenly, most will face slow death.
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Our goal should go beyond establishing India as a global hub for manufacturing, design and innovation.
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