A new paradigm for creating jobs

It would be prudent to take up a few sectors initially, get the policy instruments right, and put in the critical mass of resources to achieve a self-sustaining inflexion point

The belief that we need higher GDP (gross domestic product) growth rates and employment generation would follow is crumbling. We have had high GDP growth rates but have not been creating the jobs that we need. The focus now has to be on job creation with GDP growth becoming the consequence.

This needs a fundamental change in our mindset. We need to move beyond the “Washington Consensus”, which we embraced with the economic reforms in 1991. The state should limit its role to maintaining sound macroeconomic fundamentals, providing better physical and social infrastructure, and improving the ease of