Q/The G20 has come at a time when India has emerged as a global power.
A/ We are the fifth largest economy; by 2027, we should hopefully be the third largest. We have carried out structural reforms Goods and Services Tax, Insolvency and Bankruptcy Code, Real Estate (Regulation and Development) Act, lowering of the corporate tax, and reforms for ease of doing business.
India has built 40 million houses, which is more than the population of Australia; 110 million toilets, which is more than the population of Germany; 223 million water connections, which is more than the population of Brazil. And 55,000 kilometres of roads.
One big [achievement] is the technological transformation, digitising India. Every Indian has an identity. We created 550 million bank accounts during 2015-17. We linked them up with Aadhaar and mobile. We do 46 per cent of the real fast payments in the world. A good G20 presidency is a function of the political and development narrative.
Q/But the per capita income is lower than in many regions of the world. How do we address this problem?
A/ There is no reason why our per capita income should not grow, if we get into a high accelerated growth rate of 8 per cent plus over the next three decades. Japan grew at those rates, post World War II. Between the 70s and 90s both Korea and Taiwan grew at 9 per cent. Between 1990 and 2010, China grew at those rates.
We need to be far more ambitious and reform oriented. The Union government has done its bit. Now, reforms need to be carried out at the state level. India needs to fire on all cylinders. It is not just the services sector; you need to fire on urbanisation.
Q/How did we choose the theme One Earth, One Family, One Future?
Denne historien er fra September 10, 2023-utgaven av THE WEEK India.
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Denne historien er fra September 10, 2023-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
SAHEB LOSES STEAM
Coalition dynamics and poor electoral prospects continue to diminish Ajit Pawar's political stock