Supporters as well as critics of ModiNomics agree that the target of $5 trillion economy is challenging but achievable. The issue is not just about achieving the target of a particular size of the economy. It's a wider issue of how do we achieve it and in the process what happens to the critical challenges that the country faces like poverty, inequality and jobs. The road to $5 trillion economy should be used to create a highway for reaching the next level of expansion, say $10 trillion and $20 trillion in a particular time-frame. Towards the end of 2018, India 2030: A Socio-Economic Paradigm book, published by SKOCH Group, pitched for $10 trillion target by 2030.
RBI Governor Raghuram Rajan's strategy of widening and deepening the banking system through payment banks, India Post Bank, small finance banks and strengthening the NBFCs through appropriate regulation and facilitation deserves rich commendation for taking inclusive banking closer. But doubts still prevail over the effective reach of inclusive banking going by the laggard performance of the priority sector credit thus far.
What is the secret of longevity? Balanced diet, regular exercises and quality healthcare services. If your answer is just these, you are missing out several other factors. Health and longevity are dependent not just on taking good care of body but also taking equally good care of mind and spirit. A number of factors affect this, from the art of laughing and practising gratitude to the love and support of your spouse and parents to eating chocolate!
In today's interconnected world data is the lifeline of any economy. Free-flow of data across the world has made it easier for a person sitting in one part of the world to access the data in any other part of the world. This has made it easier for any business to expand its reach at a global level. However, the importance and use of data does not stop at connecting the individuals and the businesses. Business worth trillions of dollar is done annually where the primary input is data. Five most valuable listed firms in the world - Apple, Amazon, Alphabet (Google's parent company), Microsoft and Facebook - deal primarily in data.
The pervasive theme this year was clearly that of 'Maximum Governance, Minimum Government' and the jury was happy to learn that all the states, which had sent in their nominations, stood firmly behind this talisman. The states sent in their entries under a variety of classifications. These were Health, Finance, e-Governance, Transport, Agriculture & Rural Development, Governance, Municipalities and Education.
There's consensus now across the political and ideological divide that even in the high- growth years, a large section of the population was not receiving the dividends of the progress India has made. There are a number of deeply-entrenched factors because of which every Indian has not been able to benefit from the GDP growth India has seen in the last two and a half decades post-liberalisation in 1991.
Gurgaon will be a Smart City in addition to Karnal and Faridabad. May be, we will not get the financial assistance from the Centre meant under the Smart City Mission, we will develop it from the state funds. The Central government will provide the technical assistance in the first phase. Considering the population of the state only two cities had to be chosen from Haryana in the list of 100 Smart Cities to be developed with the Central government assistance across the country.
Sometime back Prime Minister Narendra Modi announced an ambitious target of 175 GW by 2022 for renewable energy. India has a low consumption of energy and will need to increase it several fold in the coming decades. With the global community working on reducing carbon footprint and the commitment of each nation being already in public domain with the international community as Intended Nationally Determined Contribution (INDC), the pressures for improving energy efficiency and increasing share of non-fossil fuel generation has become more intense.