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Rapid growth came to India much later: Panagariya

He said after 2011-12, growth dipped below five per cent in 2013-14 and 2014-15. We are back to 7.5 per cent today

Arvind Panagariya

Arvind Panagariya

BS Reporter Bhubaneswar
Niti Aayog Vice-Chairman Arvind Panagariya said rapid growth has come to India much later, whereas countries like China, Taiwan, Singapore and Korea experience it for extended years.

"Rapid growth has come to India much later. India also grew during the nine-year period, from 2003-2004 to 2011-12, at 8.3 per cent per year, which is the kind of growth Korea, Taiwan, Singapore and China experienced for an extended period of time," said Panagariya at Foresight-2016, an annual event hosted by a leading regional news channel.

"After 2011-12, it [growth] dipped below five per cent in 2013-14 and 2014-15. We are back to 7.5 per cent today," he added. During the rapid transformation in these countries, which took place in no more than three decades, each of these countries saw exports expanding rapidly and growth in labour-intensive industries such as apparel, footwear, assembling and food processing, he reasoned.
 

Later in the day, during his meeting with Odisha Chief Minister Naveen Patnaik, Panagariya stressed the need to put in place mechanisms and operational guidelines to jointly pursue the national and sub-national development agenda.

"This calls for formulation of a strategic plan for the entire country by the Niti Aayog and similar exercise at the state and district levels," said a release from the chief minister's office.

Patnaik also pointed out that there would be net loss in central fund flow to the tune of Rs 1776.31 crore during 2015-16, despite the increase in devolution of central taxes from 32 per cent to 42 per cent for Odisha.

The chief minister also emphasised restoration of area development schemes for the development of backward areas.

De-linking area development programmes like the special plan for Kalahandi, Bolangir and Koraput districts, backward region grant fund and integrated action plan for left-wing extremism (LWE) affected districts from central assistance will seriously affect the development programmes in the backward and LWE-affected districts of the state. Support for the development of backward areas may be restored, added the statement.

The Odisha government asked for a single-window system for communication of annual allocation and sharing pattern of CSS to the state sufficiently in advance, preferably by mid-December of the preceding financial year for enabling the state to go for a realistic budget.

Odisha's contribution to the process of nation building in terms of use of its natural resources is significant.

Demands have been raised by the state government several times in the past before for declaring Odisha as a special category state, which has not yet been favourably considered. All the criteria for special category state are fulfilled by Odisha, except international boundaries. A special dispensation should be made in the case of Odisha in this regard, Patnaik suggested to the Niti Aayog vice-chairman.

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First Published: Jan 09 2016 | 10:07 PM IST

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