Key policy options and strategic responses for India under the new dispensation at the centre are being covered in a series of articles hereafter. 

Economic Development 

The key element among these is why the debate on reforms has been reduced to “Growth versus Redistribution”, especially when stalwarts like Sen and Bhagwati choose to slug it out as a public discourse. Irrespective of the debate, the choices before India could not get any narrower – that only “growth is the best antidote to poverty”.

The first strategic response in the economic domain that must be adapted forthwith is that the state, to spur growth significantly, must make way for private enterprise by getting out of its way, ensure public goods are provided and act as impartial referees ensuring equality of opportunity and a level playing field. If this is not done now, we would be at the edge of a vicious cycle of low growth, high inflation, low investment, higher unemployment, higher taxes, greater evasion and higher migration of talented individuals and firms, to more positive scenarios other than India.

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