November 2021

Mohammad Anas Wahaj | 21 nov 2021

The book 'Unshackling India: Hard Truths and Clear Choices for Economic Revival' authored by Ajay Chhibber and Salman Anees Soz explores expectations from India's economy in the next 25 years and whether it will become a mature democracy and developed economy by 2047, the hundredth year of its independence. The authors argue that India needs to look ahead to achieve economic prosperity and inclusivity with realistic approaches and new ideas. They say, 'What India needs is an aspirational goal. GDP targets - US$ 5 trillion or even US$ 10 trillion - do not inspire the broader citizenry.' The book consider China a threat and suggests a competitive approach towards it. Also, 'Samriddh aur Sajit Bharat @100' (Prosperous and Inclusive India @100) is a slogan that all political parties should adopt as their motto. For Indian corporations, the book says, 'They should aim to grow at home and abroad instead of looking for tweaks in tariffs and regulations to serve very narrow short-term interests.' Mentioning COVID-19 crisis and government's approach towards it with existing substandard healthcare infrastructure, authors say, 'New lockdowns ensued, guaranteeing a slowdown in economic activity and prospects of further misery for the poorest and most vulnerable sections of society...India has been forced to reset by the COVID-19 crisis. Perhaps that is how India reforms - in response to crises. While COVID-19 may have set us back by several years (or longer), India could convert this into an opportunity to revitalize and structure our economic system for the future.' The crisis also created global economic challenges and India has to manage them effectivcely to pursue its expected growth trajectory. Read on...

Devdiscource: Book takes critical look at Indian economy
Author: NA

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