Good governance key to growth: Rangarajan
It was the quality of governance that separated success and failure in economic development.
By PTI |
Chennai: Good governance was at the very heart of economic growth and one of the six challenges that lay ahead for India on its way forward, C Ranagarajan, Chairman, Economic Advisory Council to the Prime Minister, said on Sunday.
It was the quality of governance that separated success and failure in economic development, he said addressing the Chamber Day of the Madras Chamber of Commerce and Industry.
He said stepping up agriculture growth, infrastructure development, fiscal consolidation, enhancing the quality and reach of primary education and basic health and managing globalisation, were the other major challenges.
Pointing out that the country's agriculture was characterised by low productivity both of land and labour, he said "We need to modernise and diversify our agriculture sector by improving both forward and backward linkages."
"These will include better credit delivery investment in irrigation and rural infrastructure, improved cropping pattern and farming techniques and development of food processing industry and cold chains across the entire distribution system," he said.
"We also need to pay adequate attention to dry land farming," he said adding that agricultural growth was critical for expanding employment, generating broad-based growth and sustained poverty reduction.
It was the quality of governance that separated success and failure in economic development, he said addressing the Chamber Day of the Madras Chamber of Commerce and Industry.
He said stepping up agriculture growth, infrastructure development, fiscal consolidation, enhancing the quality and reach of primary education and basic health and managing globalisation, were the other major challenges.
Pointing out that the country's agriculture was characterised by low productivity both of land and labour, he said "We need to modernise and diversify our agriculture sector by improving both forward and backward linkages."
"These will include better credit delivery investment in irrigation and rural infrastructure, improved cropping pattern and farming techniques and development of food processing industry and cold chains across the entire distribution system," he said.
"We also need to pay adequate attention to dry land farming," he said adding that agricultural growth was critical for expanding employment, generating broad-based growth and sustained poverty reduction.
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