The twist in the growth story - The Hindu

The twist in the growth story - The Hindu

My VIEW:

Change in base year may
not change realities at the ground level. Still, it is comforting to find that
slowly we are moving to a scenario when more authentic and current figures will
guide our own planning and assessment of our country’s position vis a vis other
developing nations by other countries and rating agencies. India was late in
introducing even the concept of purchase power parity while making projections
and comparisons and has been very conservative in assessing the country’s net
worth. All these allowed developed countries to show India in poor light. While
it is true, as argued in the article, that social security projects like employment
guarantee scheme, universal education, expansion of rural health and financial
inclusion has shifted focus from ‘trickling effect of growth’ to distributive
justice, it will be a herculean  task for
governments to make up for the harm caused by measures like dismantling of
pension system in the organised sector(except defence).
M G Warrier, Thiruvananthapuram

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