In my last column “Building back better” (Business standard, January 11), I argued that the binding constraint to India’s development transformation was the unequalising allocation of land, capital and human resources. In this column and the next, I will focus on the land question.
The utilisation of land in India has always been vexatious. The situation is getting steadily worse. By 2050, India will be the most land-scarce major economy in the world. This problem has been recognised, especially in a brilliant exposition in 2014 in the columns of this newspaper (Devesh Kapur, T V Somanathan & Arvind Subramanian, Business Standard,
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