In the backdrop of Bangladesh's per capita income overtaking that of India's, in The New Indian Express, Shankkar Aiyar argues that the India's poor policy choices through decades have hindered the economic growth of the country.
"Bangladesh is scarcely the first country cousin in the developing world to overtake India in per capita income. In the sixties, Korean officials visited India to know how we made steel. In 1960, as per the World Bank data, India’s per capita income was $82 and that of South Korea roughly twice at $158. By 1980, Korea’s per capita income was six times that of India — and at over $ 30,000 is 15 times in 2020."
"A parade of poor policy choices through the decades, ranging from the persistence with state-led industrialisation to subscription to import substitution, stalled India’s growth."
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