While some argue that a strong Opposition in the parliament might limit the Centre’s policy options, historical precedents suggest otherwise. Coalition governments enacted some of India’s most successful policy reforms. Can we finally move away from the constant ever-greening of schemes and policies? Will the new government live up to its mandate for ‘Vikas’? With the Parliament now encompassing a diverse range of perspectives and voices, we hope to witness a broadening of policy horizons. If so, as citizens, what would be our Wishlist for NDA 3.0?
Bridging Regional Disparities
India’s post-reform growth trajectory has been stable and impressive, albeit with a few setbacks, notably the significant disparity in growth performance among Indian states. The divergence in economic growth rates among Indian states became more pronounced from 1990 onward. States in the peninsular region with higher per capita incomes continue to outperform states with lower incomes, such as Bihar and Uttar Pradesh. In the last decade, GDP growth rates in southern states have ranged between five and six per cent, while most in northern states have remained at two to three per cent. To live up to claims of inclusive growth, it is imperative to address persistent regional disparities. The divergence is starkly visible in the manufacturing sector. Southern states maintain a consistent lead over their northern counterparts by a margin of two per cent. This gap widens due to the concentration of capital and investments in these regions, leaving several areas of the economy underdeveloped. The differential growth rates also influence labour mobility patterns, with migration from regions with labour surpluses to those with higher productivity becoming increasingly prevalent. Policies and investments to bridge the regional gaps should therefore be on top of the mandate for ‘Vikas’.
Walk the Talk for Climate
This story is from the June 29, 2024 edition of BW Businessworld.
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This story is from the June 29, 2024 edition of BW Businessworld.
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