Author: S. Mahendra Dev
Title: Beyond India @75 : Growth, inclusion and sustainability
Abstract: There have been many successes and failures in economic and social development of India in the last 75 years. The recent covid-19 pandemic had also an adverse impact on growth, employment, health and education etc. In this paper, issues and policies are discussed beyond India@75 for achieving growth, inclusion and development. As India is integrated with the world, global issues are also important for India’s development. The country has to achieve higher growth with better macro policies, sectoral policies, increase in investment rate, higher investment on infrastructure, use of technology, increase in exports, better performance of banking and other financial institutions to improve credit to different sectors of the economy. These policies with effective implementation are needed to achieve 7 to 8% growth per annum and achieve $ 5 trillion and $10 trillion economy faster Rising inequalities across regions, income groups, social groups, gender, rural-urban are the major problems in Indian society. The biggest inequality in India has been the slow progress in social indicators and human development inspite of high economic growth. Quality of employment, health and education is a major concern. Inequality in both outcomes and opportunities have to be reduced. Another important strategy refers to social policy. Universal basic services in health and education should be the agenda for action. Equality of opportunity is important. Thus, there are strong social, political and economic reasons for reducing inequalities. Similarly, issues relating to sustainability and climate change are becoming more important now than before at both global and national levels. Land, water, energy, common property are some of the natural resources that needs to be sustained over time. India should fulfil its commitments made in COP26 at Glasgow in 2021. The country also should undertake climate change adaptation and mitigation policies faster than before. In a large federal country like India, it is important to have larger role for states in achieving these goals. The spirit of ‘Cooperative Federalism’ has to be followed.
Keywords: : Economic growth, inequalities, health, education, agriculture, industry, services, technology, climate change, sustainability.
JEL Code: D63, E2, E5, E6, E24, I14, I24, I31, I32, Q1, Q54