Its inefficacy in addressing wealth and income disparity means that India has yet to embrace inclusive growth and development for all its citizens. The country ranks on the lower end of most parameters, be it access to education, sanitation, health coverage and infrastructure. It does, however, fare better on business and political ethics.
These are some of the findings of the World Economic Forum (WEF) in its ‘Inclusive Growth and Development Report 2015’, which analysed data from 112 countries and was published on September 7.
India mostly ranked in the bottom half of the 38 countries that comprised the report’s ‘lower middle income bracket’, which included Egypt, Ghana, Ukraine, Iran and Nigeria, among others. This category identifies countries that have enough income to lift much of the population above subsistence level, but are still struggling to do so.
(This story appears in the 02 October, 2015 issue of Forbes India. To visit our Archives, click here.)
The liberalisation of indian economy has only helped a small minority of people in India. It has not brought about the supposedly inclusive growth of the general public. One can observe this when one travels in India away from the urban centres and the capital cities. It is important to ensure that the vast majority of rural population gets their due share of the benefits of economic liberalisation. Only then can one call India a developing nation.
on Sep 22, 2015