Equitable average growth of 7% to be a miracle for India: Gates

From India’s growth rate, health, education, sanitation, infusion of technology for sustainable living, making payments bank more effective, to adopting villages in Maoist-affected areas, Microsoft founder and billionaire philanthropist Bill Gates (pictured) on Thursday touched upon numerous topics during his visit to India.

"If India over the next 20 years can achieve a seven per cent average growth and do that in (an) equitable way, that’s a miracle for the country and the world," he said at a panel discussion organised by Observer Research Foundation and the Bill & Melinda Gates foundation. Getting the goods and services tax (GST) passed was a step in the positive direction, he said. He also expressed hope that as India's tax-GDP (gross domestic product) ratio was likely to increase, so the government would have extra resources to spend on health, education and nutrition.

The billionaire, however, lamented that philanthropy in the US was two per cent of overall economic activity but it was less than 0.2 per cent in India.

Speaking at the same event, Sanjeev Sanyal, principal economic advisor in the finance ministry, said the government should spend more on health and education. "Hopefully with growing economy, we will get more tax money for more expenditure on health and education," Sanyal said.

Gates also met Union Home Minister Rajnath Singh and discussed with him various welfare issues. The minister on his part proposed the billionaire adopt a thousand villages affected by left wing extremist violence in Odisha, Bihar and Jharkhand. The home minister also suggested that the foundation should concentrate on developing villages and make them "model villages" so that the local people get inspired, an official statement said.
 

The meeting assumes significance as the registration of one of the Indian non-government organisations (NGOs), the Public Health Foundation of India (PHFI) was cancelled by the home ministry in April. The foundation, of which Gates is the co-chair and trustee, was one of the donors to this NGO, which has been working in the field of public health. Singh appreciated the various welfare works being undertaken by the foundation in India and he requested Gates to initiate health awareness programmes in the country.

During one of the events, Gates emphasised on how an effective payments bank can be used to empower the unbanked and said more money needs to be put in to research how the payments banking system can be more effective.

But the main focus of Gates’ visit, according to several people in the know, is to create awareness around heath, problem of malnutrition and sanitation. Assuring constructive support to India, Gates explained to government officials the various technologies being adopted by them in the field of agriculture and sanitation, it is learnt.

Asked whether the issue related to cancellation of licence to the PHFI came up during the discussion, a spokesperson of the foundation said in reply to a text message that "nothing of that sort was discussed".