15% GDP growth rate will eradicate poverty: Experts
The solution for eradicating poverty in the country lies in scaling up the gross domestic product (GDP) growth rate to upto 15 per cent, according to experts.
By PTI |
PANAJI: The solution for eradicating poverty in the country lies in scaling up the gross domestic product (GDP) growth rate to upto 15 per cent, according to experts.
"Government schemes and other facilities are more of clutches. Your job (of poverty eradication) is done once there is high GDP," Ajay Shah, Senior Fellow, National Institute for Public Finance and Policy, stated.
Talking to reporters on the sidelines of a conference, 'Samriddhi', jointly organised by Goa Institute of Management and Confederation of Indian Industry (CII), Shah said the poverty rate in India is declining sharply.
"The number of people living below the poverty line is going down since 1993."
Experts participating in the two-day conference opined that the villages have undergone a lot of positive change over the years.
"This is basically due to infrastructural development. The villages are connected. The picture right now is completely different from what it was 15 years ago," Rajnikant Patel, MD and CEO, Bombay Stock Exchange, observed.
The micro-financing experts, participating in the meet, made a strong case for an inclusive growth that will address problems faced in the rural sector.
"Basic infrastructure is not available to everyone. There are more cell phones in the country than bank accounts," N V Ramana, CEO Basix India, a group of financial services and technical assistance companies, said.
He stressed on striking a balance between industrial and agricultural growth.
"Government schemes and other facilities are more of clutches. Your job (of poverty eradication) is done once there is high GDP," Ajay Shah, Senior Fellow, National Institute for Public Finance and Policy, stated.
Talking to reporters on the sidelines of a conference, 'Samriddhi', jointly organised by Goa Institute of Management and Confederation of Indian Industry (CII), Shah said the poverty rate in India is declining sharply.
"The number of people living below the poverty line is going down since 1993."
Experts participating in the two-day conference opined that the villages have undergone a lot of positive change over the years.
"This is basically due to infrastructural development. The villages are connected. The picture right now is completely different from what it was 15 years ago," Rajnikant Patel, MD and CEO, Bombay Stock Exchange, observed.
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The micro-financing experts, participating in the meet, made a strong case for an inclusive growth that will address problems faced in the rural sector.
"Basic infrastructure is not available to everyone. There are more cell phones in the country than bank accounts," N V Ramana, CEO Basix India, a group of financial services and technical assistance companies, said.
He stressed on striking a balance between industrial and agricultural growth.
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