February 01, 2021

Economic Survey: Will Budget fix what India ails from?

Shankkar Aiyar discusses how the budget will need to deliver in education, health and job creation to address worsening inequality in The New Indian Express.


Excerpts below:


"In its opening chapter, the Survey quotes from Thirukkural, Chapter 49/ Verse 482: “Doing the right things at the right time is the rope which binds the wealth, making it boundless.” Whether the profound lesson is being followed is a question open for debate, and the answers depend on who is telling the story. That said the survey does provide an illuminating guide for knowing India and a robust foundation to assess whether Union Budget 2021 addresses the issues haunting 1. 4 billion Indians.


India has one critical surplus and that is the number of people in the political economy. The promise of demographic dividend depends on investment in human capital. No economy has risen to developed status without spending on human development. And yet, historically, India has shied from making the necessary investments. India ranks 131, down from 129 in 2019, among 189 nations, ON the UN human development index and is in the company of smaller and poorer nations."


Read the full article here.

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