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Article

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It goes without saying that political stability is the sine qua non for any sustained effort to achieve rapid and inclusive growth. The main drivers of such growth would be small farm agriculture, SMEs and microenterprises, construction and low-cost housing, tourism, IT and IT enabled services, diversification and value addition in exports. Thus, the agenda proposed for the short, medium and long term should have a continuous chain, linking and consolidating the gains from these sectors and stimulating inter-sectoral synergetic impulses over time. Continuity of these policies beyond the electoral cycle is an absolute must. There are multiple pathways to attain this kind of growth but the preferred route to be chosen is the one that expands domestic productive capacity to meet the higher aggregate demand associated with rising per capita incomes, the relatively high propensity to create productive jobs and support livelihoods, alleviate poverty, and reduce interpersonal and regional inequality. Tough political decisions would be required from time to time. The time horizons described are not discrete as they would have spillovers but are continuous, interwoven in a chain that leads to the ultimate goal.

Publication Source

The News

Publication Date

6-3-2022

Pages

1-4

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Economics Commons

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