That’s an interesting point...there are a huge number of kids who are malnourished and there’s a problem there. But it doesn’t get solved by saying we need more PDS (public distribution system) or food; it doesn’t serve any purpose. So the message isn’t that social things aren’t important. That’s not the message at all. In some ways, the Economic Survey is the only place we talk about growth... People forget how much revenue growth has depended on this huge shift in economic growth. The high growth has meant high corporate investment, huge increase in corporate profits and tax revenue. It’s very easy to get used to “Oh, we will always have this growth and we will go on increasing social spending permanently.” That’s not true. When it (growth) falls back to 6%, that will not be true.
So to take that logic further, pursuing high growth is no longer an option, it’s a necessity?
Yes, even for social purposes. I don’t know if want to use the word “necessary”, we have used the word “critical”. But necessity, yes, that word can also be used. You don’t need growth to maintain a level, you need growth to grow those levels to expand the agenda.
Even the President’s speech referred to this...
I think that view is understood within government. It’s not something that I have invented. But what we did want to do is emphasize it at this point.
So you are effecting a change in the mindset...
It’s not a change. The problem is people get used to a certain level. This is where they have been for the last five years and they get used to a certain thing. Those who have seen just the last five years...that’s not the normal (level). That’s not the normal (level) globally. Countries fall off. There’s nothing to despair, but don’t be complacent.
anil.p@livemint.com
Jacob Koshy contributed to the story.
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