“Accelerating Economic Growth in India: Agenda for Reforms” - JKSHIM

To speed up the rate of growth and also to generate employment opportunities, the country is in need of reform budget. However, reforms need not be necessarily confined to the Budget process. Reforms can be carried out outside the Budget also, observed Dr. M Govinda Rao, a noted economist and Former Member, Economic Advisory Council to the Prime Minister of India. He was delivering a special lecture on the theme “Accelerating Economic Growth in India: Agenda for Reforms” at the Institute. He argued for three different but necessary policy measures, enhancing public investment, containing fiscal deficit and formulating counter cyclical fiscal policy. Pointing out that inclusive growth should not mean services lead growth, he stated that the country is in need of manufacturing led growth. Besides there should be investment in infrastructure, particularly, power, railways, highways and shipping. The centrally sponsored schemes should be reduced and state and local governments should be given more powers for realizing the goal of inclusive growth. Director of the Institute Dr. K Sankaran, Dr. N K Thingalaya, Chairman of the Academic Council of the Institute and Professor G V Joshi also spoke. Dr. Sudhir Raj K coordinated the program.