Economy

Growth without social justice

Print edition : September 01, 2017

July 24, 1991: Finance Minister Manmohan Singh going to Parliament House in New Delhi to present the Budget. In the wake of a balance of payments crisis that year, the government launched a deep-seated programme of neoliberal reforms. Photo: THE HINDU ARCHIVES

October 27, 1971: Kerala Chief Minister C. Achutha Menon hands over a land deed to one of the 450 participants of the Punnapra-Vayalar struggle of 1946, in Alleppey. They were given a land grant of two acres each. Photo: THE HINDU ARCHIVES

Beneficiaries of land assignment at Kandi village in Medak district, now in Telangana. The fertilizer bags distributed to them are also seen. Photo: THE HINDU ARCHIVES

Norman Borlaug (third from left) selecting strains of high-yielding wheat along with S.P. Kohli, M.S. Swaminathan and V.S. Mathur, in New Delhi in 1965. The Green Revolution strategy kept famines at bay and partly made up for the absence of land reforms by encouraging direct cultivation by large landholders. Photo: THE HINDU ARCHIVES

Employees at an assembly line of Indian Telephone Industries, the first public sector project set up after Independence, in Bangalore in 1948. The defining feature of the economic programme of independent India’s first government was accelerating the transition to a modern economy dominated by industry. Photo: THE HINDU ARCHIVES

Finishing touches being given to trucks at the Tata Engineering and Locomotive Company plant in Jamshedpur. A file picture. Photo: THE HINDU ARCHIVES

India’s reliance on fortuitous and volatile stimuli to drive growth has resulted in inadequate job creation and widened inequalities while failing to address social deprivation.
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