Summary
Contents
Subject index
Can India achieve a high-income status by 2050 when it celebrates the centenary of its Republic?
Will the nation eliminate absolute poverty and improve its human development record?
This book emphasizes the centrality of a trade-oriented services sector led by communication, business services, health, education, research, and innovations for achieving these growth targets. It also argues that inclusiveness, financial prudence, and low-carbon lifestyles are preconditions to long-term growth.
India can achieve such prosperity neither through the socialistic policies of 1950–80 nor through the neo-liberalistic policies since 1980. It needs to, instead, follow a middle-path approach closer to the systems adopted by Germany and the Nordic countries. It is within this framework that India will devise its independent development paradigm rooted in its own traditions and realities.
Ensuring Social Sustainability of Prosperity
Ensuring Social Sustainability of Prosperity
I. Introduction
It is often stated that economic growth is not an end in itself. It must have the additional virtue of being socially inclusive and socially just. We agree with the importance of inclusiveness and justice but take a somewhat different stance on why that is important. We argue that social inclusiveness and justice are not add-ons to growth. They are, in fact, preconditions for sustained high growth. As has happened in so many countries (e.g., Iran and the Philippines), large social exclusion and sense of social injustice can lead to social and political upheavals with disastrous consequences for growth. Also for India, the risks coming from social exclusion and social injustice are high and could ...
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