Cant follow one-size-fits-all approach:Prez on economic policy

India's needs and requirements are different from those of developed nations and it cannot follow "one-size-fits-all approach", President Pranab Mukherjee said here today.
Interacting with a group of 29 officer trainees of Indian Economic Service (IES), who had called upon the President at Rashtrapati Bhavan, Mukherjee asked them to provide policy makers with informed analysis, policy options and strategies to meet the country's social and economic objectives.
He advised them to remember that the requirements of India's democratic polity are different from those of developed nations, a press release issued by Rashtrapati Bhavan quoted the President as saying.
"We cannot follow 'one-size-fits-all' approach," he said.

"We must be open to ideas from all sides, (including those of) developed, emerging and developing economies, but we must never allow them to dominate our thinking.
"We must be firmly rooted in our reality. We must take their best and tailor it to suit our needs," Mukherjee said.

The group of 29 officer trainees of IES 2012 batch is presently undergoing training at the Institute of Economic Growth here.
An officer of IES, a specialised service, is trained in economic analysis, policy formulation and its implementation.
Among those present on the occasion were Dr Arvind Mayaram, Secretary, Department of Economic Affairs and Dr Raghuram G Rajan, Chief Economic Adviser.