Creating spaces for different opinions is only way to craft policies that encourage investment | The Indian Express

Creating spaces for different opinions is only way to craft policies that encourage investment | The Indian Express

Written by Kaushik Basu |Updated: November 8, 2019 11:16:29 am

The writer is C. Marks Professor at Cornell University and former Chief Economist and Senior Vice President, World Bank.

Creating spaces for different opinions is only way to craft policies that encourage investment

All nations in the world today face a challenge of expertise. Because the world has become so complex, it is impossible for all of us to know everything.

India’s annual growth rate in the first quarter of this financial year is down to 5 per cent, the unemployment rate is at a 45-year high. (Illustration: C R Sasikumar)

I have strong political differences with the present Indian government. That is what democracy is about — having space for different opinions and ideas. Where I had expectations from this government was in terms of the economy. In terms of its stated objectives — growth, development, job-creation and higher standard of living for the poor — there was little to contest. As an Indian citizen I had hoped — even though my politics was different — the government would succeed in its economic objectives.