We are becoming a part of the world wherein economics is being driven by politics
Alot has been written about the recently released Strategy For New India @ 75 by the National Institution for Transforming India (Niti) Aayog. For the uninitiated, it outlines economic priorities of the government with an ambitious goal of transforming India to a $4 trillion economy by 2022-23 from $2.7 trillion in 2017-18. It sets the target of increasing investment rate to 35% from 29%, doubling exports to $800 billion, and the share of manufacturing to 25% from 15% in the next five years. This essentially means the economy has to expand at a compounded annual growth rate of 8.5-9% during the coming years. This cannot happen in a business-as-usual approach. It would require fresh thinking.