“Growth is made by the private sector”

“Growth is made by the private sector, all we need to do is making the institutions stronger”, said Dr Ajay Shah , NIPFP during the launch of his book – “In Service of the Republic- The Art and Science of Economic Policy” jointly authored with Dr. Vijay Kelkar, Chairman of the National Institute of Public Finance and Policy, organised by the Indian Chamber of Commerce in Kolkata on 21st January, 2020. The book comes at the most opportune moment when much discussions are being held all over the economy about policies, policy making and so on and hence is a must read for all – stated Mr. Rudra Chatterjee, Past President , ICC during the book launch. Dr Rajeswari Sengupta, IGIDR was in conversation with Dr. Shah during the session when he elaborated about the certain misconceptions and over expectations we have from the Government. He stated that the book deals about the various ways of rethinking that we need to do as a society to improve our economy and stated that we should seek less state intervention and act more on negotiating and building policies and institutions that can aid growth.

 We need to put the country into the path of a mature market economy, situated amidst a liberal democracy.Let us focus on creating opportunities than outing emphasis on reducing inequality or redistribution. Making the pie bigger will automatically cater to the problem of inequality.We are in a difficult time but there are no quick solutions. Fundamentally rethinking the policies are needed. The book delves on this aspect and how change should come through ideas.  –    Dr Ajay Shah , NIPFP said during the interaction.

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