Narendra Modi s commitment to high growth & jobs is genuine & achievable. A ten-fold increase in GDP in 30 years is feasible if growth is > 8%. China has achieved more in 30 years. We can do it too. But we must set our school education, healthcare, public services, & power right. Long-term,sustained high growth rate needs more than fiscal & investment policies. We need productivity gains &human development. Corruption, centralisation & nepotism undermine morale of most young people & impede animal spirits. Opportunity to all is the key. Unless the poor have stakes in growth, there will be political backlash. PM is absolutely right: growth is to end poverty & give jobs.Demand for education & health is very high & people are willing to pay. Supply is appalling. This needs to be fixed if poor are to prosper. If villages & municipal wards get a decent share of public money & power to shape their future, they can be engines of innovation & growth. Top-down model alone will not work. Fix human development, improve power supply, localise decision making & ensure non-corrupt services. The people will do the rest. That is when development will become a peoples movement. As Ministry of Finance, Government of India said, the states that resist will lose out. This is a defining moment. We need to put nations future above power, party, caste & religion. People are ready. Are the elites ready?
Posted on: Sat, 17 Jan 2015 13:15:59 +0000
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