This refers to the report "Panagariya expects economy to grow 8-10% for 15 years" (April 14). Given the poor and current regressive policies in the agricultural sector, there is no way Indian agriculture can go beyond 3 per cent per annum. Given the previous instances of similar growth in agriculture, the last deputy chairman of the Planning Commission, Montek Singh Ahluwalia, had confessed in 2011 that there is no way India could grow with more than 7 per cent growth rate. Subsequently, the United Progressive Alliance (UPA) government did undertake positive steps for the agricultural sector. Three of the most important policy reforms of the UPA in agriculture in its last year were accepting the research for field trials of genetically modified crops to boost crop production, promoting Pink Revolution to boost the livestock sector, and clearing policies for foreign direct investment in retail trade, which would have strengthened vertical linkages of agriculture.
The National Democratic Alliance government has reversed and basically abolished these policies. This statement from the National Institution for Transforming India (NITI) Aayog Vice-Chairman Arvind Panagariya adds further risk to the already risky situation that is facing India. The risk is that policy-makers will relax, thinking that all is well and their policies are perfect.
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The National Democratic Alliance government has reversed and basically abolished these policies. This statement from the National Institution for Transforming India (NITI) Aayog Vice-Chairman Arvind Panagariya adds further risk to the already risky situation that is facing India. The risk is that policy-makers will relax, thinking that all is well and their policies are perfect.
Chandrashekhar G Ranade Washington DC
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number