FOCUS ON PRIMARY SECTOR

Focus on primary sector*

Apropos Mythili Bhusnurmath’s excellent article “Cart Before the Horse?” (Economic Times, May 2, 2016), one wishes policy makers patiently reads the article to the end, where the quote from Dr Manmohan Singh in which the need for focus on primary sector is beautifully woven in the economist’s language: “Economic policy should address hunger, literacy, employment, infrastructure and growth in that order”.

Post LPG (liberalisation-Privatisation-Globalisation) India is measuring growth and celebrating achievements in terms of private sector profits, height of towers built, growth in sectors like IT, banking and transport and possible inflow of FDI. All  these will shine in contrast, till things get better outside. RBI Governor was criticised for saying this in a different way. But, let us concede, if we neglect primary sector, sustainable growth and development are impossible.

One need not worry too much about the per capita wealth of Indian as compared to his friends elsewhere. Luckily, unlike in countries like China, unaccounted wealth of India must be a decent multiple of the country’s GDP.


M G WARRIER, Mumbai
*A slightly edited version published in ET on May 3, 2016

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