Asserting that innovation cannot be a single solution to reduce inequalities or poverty, the former Chairman of the Prime Minister s Economic Advisory Council said besides faster growth rate, the country may need social safety nets such as subsidies in kind of cash and basic income.
Former Chairman of the Prime Ministers Economic Advisory Council said besides a faster growth rate, the country may need social safety nets such as subsidies in kind of cash and basic income.
Former RBI Governor C Rangarajan said India indeed needs a faster rate of growth to make up for the loss of output in the previous two years from the trend rate.
India becoming a $5-trillion economy by 2025 is impossible under the current circumstance and the country needs to grow at 9 per cent per annum for the next five years in order to achieve that, former Reserve Bank Governor C Rangarajan said on Friday.