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Transformation of Indian economy to achieve high growth with equity: issues and way forward

Author

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  • S. Mahendra Dev

    (ICFAI
    Indira Gandhi Institute of Development Research)

Abstract

In this paper, we examine issues and policies for transformation of Indian economy to achieve higher growth with equity in the next 2.5 decades as India aspires to be a developed country by 2047. We also highlight the structural challenges and opportunities for the Indian economy. The objective is to provide a broad assessment of the factors that need to be critically addressed for India to not only achieve and sustain a high rate of growth but also equity.

Suggested Citation

  • S. Mahendra Dev, 2024. "Transformation of Indian economy to achieve high growth with equity: issues and way forward," Indian Economic Review, Springer, vol. 59(1), pages 123-154, October.
    • Handle: RePEc:spr:inecre:v:59:y:2024:i:1:d:10.1007_s41775-023-00205-9
    DOI: 10.1007/s41775-023-00205-9
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    References listed on IDEAS

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    1. Abhijit V. Banerjee & Shawn Cole & Esther Duflo & Leigh Linden, 2007. "Remedying Education: Evidence from Two Randomized Experiments in India," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 1235-1264.
    2. K. L. Krishna & J. V. Meenakshi, 2022. "Agricultural Productivity Growth and Structural Transformation in Rural India: Some Recent Evidence," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(1), pages 277-302, September.
    3. Mc Millan,Margaret & Rodrik,Dani & Sepulveda,Claudia Paz, 2017. "Structural change, fundamentals, and growth : a framework and case studies," Policy Research Working Paper Series 8041, The World Bank.
    4. Xinshen Diao & Margaret McMillan & Dani Rodrik, 2019. "The Recent Growth Boom in Developing Economies: A Structural-Change Perspective," Springer Books, in: Machiko Nissanke & José Antonio Ocampo (ed.), The Palgrave Handbook of Development Economics, chapter 9, pages 281-334, Springer.
    5. Amit Basole, 2022. "Structural Transformation and Employment Generation in India: Past Performance and the Way Forward," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 65(2), pages 295-320, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Pandemic; K-Shaped recovery; Structural Transformation; Inequalities; Growth; Poverty;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • G2 - Financial Economics - - Financial Institutions and Services

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