Ramesh S Arunachalam

Powering India To Double Digit Growth Ramesh S Arunachalam

POWERING INDIA TOWARDS DOUBLE DIGIT GROWTH AND SHARED PROSPERITY
In the last 72 years, much has been attempted in India to push the country towards economic growth and prosperity while at the same time trying to reduce poverty and associated inequality. We have had mixed success but largely, India remains a dualistic economy with huge inequality and real wealth is concentrated in the hands of a few. And for this and other reasons, India has never been able to have annual GDP growth rates consistently in double digits.
The key question here is how can India consistently have an annual GDP growth rate in the double digits in real terms and yet ensure this growth is equitable in terms of sharing of wealth and prosperity.
The above book suggests practical implementable strategies using grassroots, multi level and multi-sectoral experience of Ramesh S Arunachalam in 640 districts of India and 31 other countries spread across 30 years. I also use the lessons from my vicarious learning.
Sub-questions explored include (but are not limited to) the following:
a) How to rationalize the direct and indirect tax regime and enhance revenue generation while at the same time make it less burdensome for the citizens?
b) How to bring the parallel economy in the real estate and infrastructure sector into the formal economy and eliminate the vast hoards of black money and corruption in real estate?
c) How to fight and prevent regular and spectacular corruption so that the parallel (black) economy is eliminated and the country as a whole benefits?
d) How to make the political system more accountable, effective and efficient so that they can seamlessly contribute to India having a vibrant democracy, which, in turn, can assist the move towards double digit GDP growth and a resilient economy?
In the author's opinion, five key big bang steps (as outlined in the chapters and conclusion) are necessarily required to push the Indian economy into a high growth trajectory. Without a doubt, these five big bang steps must be implemented-otherwise the Indian economy will continue to remain in its current state of inertia, of slow growth and other associated symptoms, as elaborated here.