What's New :
23rd November 2023 (11 Topics)

Listen to the people, not the numbers


There is a global need for innovative economic ideas beyond traditional growth metrics to ensure sustainability and social harmony.

India's Income vs. Growth Challenge

  • India's economic issue lies in insufficient and unsustainable income growth despite overall GDP growth.
  • Debate on job creation intensifies, questioning government data accuracy and attributing the problem to current policies.
  • Income-Centric Policies: The focus on GDP as a misleading indicator and emphasizes the need for income-centric policies.

Challenges in India's Economic Transition

  • Economic Transition Challenges: India's economic transition from agriculture to services bypassed manufacturing, leading to a job quality crisis.
  • Job Quality Crisis: Millions moved from agriculture to jobs lacking security, adequate pay, and opportunities for skill development.
  • Sectors-specific issues: Labor-intensive sectors like manufacturing, services, and construction offer initial steps, but job quality remains a concern.

Towards a New Economic Paradigm

  • New Economic Ideas for Sustainability: The world requires new economic ideas for sustainability and social harmony, shifting from traditional growth metrics.
  • Valuing Caregiving as a Social Enterprise: Attention must be given to caregiving as a valued social enterprise, challenging the current focus on formal economic efficiency.
  • Paradigm Shift in Policymaking: Policymaking needs a paradigm shift, prioritizing input from workers, small farmers, entrepreneurs, and women for future-focused policies.
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