In an evolving economy it is hard to identify " the poverty line " ,which by nature is dynamic and its constituent factors keep changing in inter-se priority.Today in the US economy , the element of Health care dominates all else and jobs is the major concern of the eurozone. Nonetheless a fleeting satisfaction is justified over the recent data put out on our declining poverty , even if from an uncertain datum. . But a call for caution can do no harm. . USSR long endured Putin’s social contract that had been trading freedom for security, China built up its vast middle class wielding absolute authoritarianism, our own Left gave primacy to land reforms and ideology over education and industry . None of them had pondered over the poverty line.All are waging an uphill struggle now ,towards socio-political resurgence and to redefine the sum and substance of a state's true well
being.Transient policy fixations over time tend to be accepted as validated tenets .Our present concept of inclusiveness could turn out to be narrow enough to restrict lateral vision, so vital for a nation.An excessive subsidy / dole- driven political bent could leave the nation with a hunch-backed economy that would rather stoop down to look at the poverty line, than be looking up to growth . Today, every single national economic index is drooping and planners,economists and administrators are at a loss to effectively re-rail the economy. Our demographics is heavily dependent on job creation and without growth even existing jobs would be threatened. The luxury of a subsidised economy that was available at a 9 % plus GDP can not be replicated, at the ongoing 5-6 % level.
( PUBLISHED IN Economic Times ,28 July )
being.Transient policy fixations over time tend to be accepted as validated tenets .Our present concept of inclusiveness could turn out to be narrow enough to restrict lateral vision, so vital for a nation.An excessive subsidy / dole- driven political bent could leave the nation with a hunch-backed economy that would rather stoop down to look at the poverty line, than be looking up to growth . Today, every single national economic index is drooping and planners,economists and administrators are at a loss to effectively re-rail the economy. Our demographics is heavily dependent on job creation and without growth even existing jobs would be threatened. The luxury of a subsidised economy that was available at a 9 % plus GDP can not be replicated, at the ongoing 5-6 % level.
( PUBLISHED IN Economic Times ,28 July )
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