Rangarajan also advocated public-private partnership model for delivery of social services such as health and education.
"The design of policies has therefore, to perform delicate balancing act. The pro-poor policies are necessary as they are to widen the opportunities and capabilities of the poor, must be so fashioned as to promote growth in the long run.
"Pro-poor policies should include not only income transfers, which by their nature have to be limited, but also flow of investment to sectors and areas where poor work and live. Rural development including agriculture growth thus assumes major importance," Rangaragan said.
On the delivery of social services, the economist said the delivery channel need not necessarily be through government administrative mechanism.
"Public-private partnerships in the delivery of these services need to be explored. While taking the advantage of superior administrative efficiency of private institutions, the larger public goals should not be scarified. Public- private partnership mode of delivery can thus supplement the direct delivery of services through government institutions," he added.
In the case of the AIDS programme, which has proved to be a success in India, non-governmental organisations have played an extremely important role, he further said, adding social development and economic growth are not necessarily the same.
You’ve reached your limit of 5 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app