Inclusive growth should also cover middle class: Montek
|
|
|
New Delhi, Oct 31 - Planning Commission deputy chairman Montek Singh Ahluwalia said Wednesday that inclusive economic growth also needed to address the concerns of India's middle class.'Inclusive growth goes beyond the way it has been presented. It's not only a question of poverty alleviation. It's a growth process that people feel is affecting everyone,' Ahluwalia told the Fortune Global Forum here.'It is not enough to say that the poor are getting poorer (because of globalisation). There is a large population whose concerns have also to be addressed.'The middle class is concerned whether their upward social mobility will continue for their children. We have to broaden the concept (of inclusive growth beyond) just a question of taking the poor along,' he said.Ahluwalia was speaking at a session on 'India's Economy: The Long View'. His comments came in response to issues raised during a previous session, 'Globalisation's Winners or Losers'.The question posed at that session was: 'How do American politicians address their voters' concerns that globalisation was taking away US jobs?'Ahluwalia responded: 'The answer is that the US political leadership should realise that there's a lot to be gained here.''So, how would you grade India on globalisation?' asked columnist Robert Friedman, the moderator.'It's not just about globalisation but also about inclusive growth,' Ahluwalia replied.As for globalisation's winners and losers, it fell on former Indian diplomat Shashi Tharoor to take on the US-centric views of the three other panelists.'The ideology of the freedom movement was anti-globalisation. For the first 40 years (after independence), our economics of nationalism said you couldn't be politically independent if you are not economically independent. So protectionism went up.'For us, (the) globalisation (process that began in the early 1990s) signals a paradigm shift in our economic policies. Now, (with the Indian economy galloping), you are saying 'Whoa (slow down)',' Tharoor maintained. (c) Indo-Asian News Service
|
|
|
|
|
|
Related News
India's Suzlon sells stake in Belgian firm Hansen New Delhi - Suzlon Energy, India's biggest wind-turbine maker Friday said it has sold a 35-per-cent stake in Belgian wind gearbox maker Hansen for 370 million dollars. Suzlon through its Netherlands-based subsidiary AE-Rotor Holding BV sold 236 milli...
Indian farmers protest for higher sugarcane prices - Summary New Delhi - Thousands of sugarcane farmers marched through the streets of the Indian capital Thursday disrupting traffic and paralysing key roads as they demanded higher prices for their crops. The protests affected India's Parliament which was adjou...
Indian billionaires almost double on market rebound, Forbes says New Delhi - India's billionaires' club almost doubled from 27 in 2008 to 52 in 2009 largely due to a rebounding stock market and economic growth of 6 per cent, Forbes Asia said. Mukesh Ambani, chief of Reliance Industries Limited, remained India's we...
Legislators, farmers protest for higher sugarcane prices in India New Delhi - Opposition legislators forced an adjournment of Parliament as thousands of farmers gathered in the Indian capital Thursday demanding higher prices for sugarcane crops than those fixed by the government. Farmers from the northern state of ...
India, Canada aim at free trade, to seal nuclear pact soon New Delhi - India and Canada on Tuesday signed an agreement to facilitate cooperation in energy security and another accord aimed at reaching a bilateral free trade agreement. Indian Prime Minister Manmohan Singh and his Canadian counterpart Stephen ...
Asian Development Bank to fund infrastructure projects in India Manila - The Asian Development Bank (ADB) said Tuesday it would loan 700 million dollars to India for infrastructure projects to be developed by public-private partnerships. The loan would be released in three tranches over five years to state-owned ...
Air India posts 1.2-billion-dollar loss New Delhi - India's national carrier Air India reported a net loss of 55.5 billion rupees (1.2 billion dollars) for the financial year which ended March, news reports said Thursday. The state-run airline, which announced the results in the southern c...
|
|
|
|
|
|
|
|