A common economic programme for India

A development transformation involves progress on many fronts, but there can be no transformation without high, stable, and inclusive economic growth. The economic programme of any party or coalition that is serious about transforming India must be underpinned by four economic objectives. In this sense, here I offer a common economic programme.

Structural shift in GDP composition.

As I have argued in previous columns, India is headed towards a middle income trap. So far, growth has been spurred by catering to the demands of the top hundred million, which is why Bombay’s indicators of economic performance are about sales of cars, two-wheelers,