Development Paradox: Economic Growth and Inequality

Keshavcdas's Blog

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On completing one year in office, Modi government in India reported that India’s economy grew by 7.3 per cent during 2014-15.  The International Monetary Fund has projected that India will outpace China during the current fiscal year. This is very encouraging news. From the point of view of broader policy-making India is still a recovering economy.  The prime drivers of the growth were the significantly stronger performance of ‘manufacturing’, ‘electricity, gas, water supply and other utility services’ and the ‘financial, real estate and professional services’.

However, this is a development paradox. Indeed, this development paradox is applicable as a truth into most of the developing and least development countries economics; both in Asia and Africa. Taking the example of India, it is true that India has attracted global attention for rapid economic growth. India accounts for nearly 80% of the regional GDP of South Asia, and is the largest country…

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northeastias

North East Institute of Advanced Studies (NE-IAS) has been founded with a vision to make high quality professional education and training available at doorstep with the guidance and assistance of nationally acclaimed trainers and mentors who have achieved benchmark in their fields by consistent success records. NE-IAS aims to develop a quality and result-oriented coaching and training institute in NE India. The institute currently offers courses for preparation of UPSC and state level civil services.

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