ASSOCHAM Paper suggests "mid-course" correction to remove inequalities

Suggesting "mid-course corrections" in growth and development model, an ASSOCHAM Paper has said economic, social and political focus should be on narrowing the inequalities among different segments of the Indian population.

The trajectory of growth and development as reflected in the outcomes in terms of various parameters need many mid-course corrections as pointed out by many economists also. More effective economically, socially even politically would be to focus on inequalities and how comprehensive policies including manufacturing would contribute to the aim of narrowing inequalities as development processes are initiated, the paper pointed out.

It said development is not a "straight line nor a slot machine" and quoted well known business consultant and former Member of the Planning Commission (now NITI Aayog) Mr Arun Maira. He had cautioned that Inequality has been increasing fast.

Mr Maira was also quoted as saying, India is becoming one of the most unequal societies in the world.

The ASSOCHAM Secretary General Mr D S Rawat said, we have reposed great faith in Prime Minister Mr Narendra Modi's agenda for reducing inequality through robust enterprise. It is only through robust industrialisation, modern and efficient agricultural and services sectors that more and more people can be brought into the economic development".

The paper said remedies in the farm sector lie in consolidation of land holdings along with management structure that can implement modern agriculture.

For the non-farm sector, the enterprises can transform the talent "with their hand and mind" into tradable assets that bring income.

Powered by Capital Market - Live News