Inclusive Growth, poverty and Economic Development in India. Prof. S.Mahendra Dev, Chairman, Commission for Agricultural Costs and Prices, Government of India. Introduction. Since independence, significant improvement in India’s economic and social development.
Inclusive Growth, poverty and Economic Development in India
Prof. S.Mahendra Dev,
Chairman, Commission for Agricultural Costs and Prices, Government of India
-- high oil and fertilizer subsidies
-- Duty cuts, export bans
-- Administrative measures on hoarding, ban on futures markets
-- Procurement, buffer stock and public distribution of food
-- Growth approach: all three sectors contribute agriculture, industry and services
-- Direct approach : Safety nets or anti-poverty prog.
-- Self employment progra. (women’s groups), wage employment progra, food subsidies, nutrition programmes for children, old age and maternity benefits
-- Public Distribution System – Subsidized food
-- National Rural Employment Guarantee Scheme (NREGS) – Giving 100 days of wage employment to the poor
--Deceleration in growth from 3.5% during 1981-97 to 2% during 1997-2005. Decline in yield growth.
-- Land and water problems, vulnerability to world commodity prices, farmers’ suicides, 45% of farmers want to leave agri but no where to go.
----Disparities in growth across regions and crops: growth rate declined more in rainfed areas.