Growth rates

Recently, I have come across articles stating that higher GDP growth does not ensure that the Indian economy will be become a giant nation because there a still many areas that need to be addressed: they are rural –urban divide in terms of infrastructure and income levels, inequalities, abject poverty and unemployment are some of them. The authors have said that there is need to review the wisdom that higher GDP growth as a panacea of all ills. Though these authors have put across this wisdom as something new, it is in reality a revisit to the ideas put forward in 1970s when many middle incomes countries, which grew at astonishing growth rates faced problems associated with health, education and poverty. Even UN recognised the importance of basic needs.

Sometimes I wonder, that the memory of not only the voters but also reviewers is relatively short.