Prime Minister Manmohan Singh’s concern about poverty and inequality merits serious attention. Without economic growth there can be no eradication of poverty, particularly with an ever-increasing population. Over the years, growth has come to be associated with stability, equity and, now, sustainability. Though growth has been achieved to a reasonable extent, these associated objectives have not been realised to the desired level, thanks to the ineffective implementation of government policies. Though the government policies evolved in 1991 were well-intentioned, they largely involved initiatives by the rich, without providing opportunities for the poor. No amount of growth can reduce poverty unless its benefits are made available to the poor. Therefore, equitable distribution must be the guiding principle of all economic policies.
Another matter of concern is the tendency of defending exploitation of nature since it is believed to be inevitable for poverty eradication. Under any circumstances, environment degradation cannot be justified. The need of the hour is to unearth enormous black money and spend it exclusively on poverty eradication.
M B Mallikarjuna Pandit, Mysore
