Are freebies destroying our economy?

In this insightful episode of the Growwing India Podcast with Monika Halan, we hold a wide-ranging conversation with Dr. Shamika Ravi, renowned economist and member of the Economic Advisory Council to the Prime Minister (EAC-PM), to dive deep into India’s economic landscape.

A thought-provoking discussion that sheds light on the opportunities and hurdles India faces on its path to 8% GDP growth.

Topics covered include:

-Understanding multidimensional poverty
-Tendulkar vs Rangarajan poverty measurement methods
-The reliability of public economic data
-Sustainability of welfare schemes in India
-The dynamics between poverty reduction and industry growth
-Challenges with consumption-led growth
-The role of private and government investments
-Regional development comparisons: Gurgaon vs Noida
-Corruption’s impact on the economy
-Economic costs of populist freebies

If you’re interested in Indian economics, policy, and development, this episode is a must-watch!

Timestamps:

00:00 Episode Highlights
04:54 Introduction of Dr. Shamika Ravi
06:00 Overview of the Work of the EAC-PM
07:21 Discussion on Multidimensional Poverty
08:51 Tendulkar and Rangarajan Poverty Measurement Methods
12:12 Evaluation of the Reliability of Public Data
14:10 Examination of the Sustainability of Welfare Schemes
18:00 The Interplay Between Poverty Reduction and Industrial Growth
24:00 Assessment of the Timeliness of Welfare Programs in India
28:20 Analysis of the Disconnect Between Consumption and Economic Growth
33:40 Issues Surrounding Contract Enforcement
36:23 Role of Private and Government Investments
40:28 Comparative Development: Gurgaon versus Noida
43:00 The Impact of Corruption in India
49:25 Economic Implications of Populist Freebies
57:46 Closing Remarks and Outro


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