The new growth strategy: Rurbanic and Gandhian

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In a grim global environment, tapping the rich hinterland of our own country is a better approach, rather than depending on other countries The Union Budget has an imprint of Prime Minister Narendra Modi's Gujarat experiment of rurban economics. It is probably for this reason that he mentioned in his Mann ki Baat on February 28 that even he has an exam on Monday, February 29. He did have one, when the stock market, midway in his government's Budget, started to flicker and lose confidence. Of course, the market recovered rapidly, as the strategy, probably, sunk in. In any emerging country, the Budget is more of a policy statement than a simple accounting exercise of income and expenditure of the government. In this year's Budget, finance minister Arun Jaitley attempted a Herculean task to address the sagging economy through a new strategy of initiating national growth through the rural sector. The direct implications of a slowing economy are increasing unemployment, falling demand of industrial goods and lower consumption. This situation is also a recipe for many social problems and social unrest. Therefore, this is not a conducive economic environment for a country which is in the midst of a demographic dividend. Read more at: https://www.financialexpress.com/opinion/the-new-growth-strategy-rurbanic-and-gandhian/218869/

Publication Date

3-3-2016

Publication Title

Financial Express

Publisher

The Indian Express [P] Ltd.

Keywords

Economics, Economic growth, Union budget, Economic policy

Source Link URL

https://www.financialexpress.com/opinion/the-new-growth-strategy-rurbanic-and-gandhian/218869/

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