Part 8 of What needs to be done to get INDIA back into 8% growth …. Summary and specific 10 point agenda

India is at a turning point. The first set of reforms undertaken in 1991 have run their course and minor tinkering around the edges is not yielding the desired outcomes anymore.  The GST has finally made India into one market instead of 28 separate state markets but it is a spaghetti of complexity. There is aContinue reading “Part 8 of What needs to be done to get INDIA back into 8% growth …. Summary and specific 10 point agenda”

Part 7 of What needs to be done to get INDIA back into 8% growth …. How to unleash capital in the service of Indian growth

Capital includes money and means of production (including the infrastructure needed to get the products to the market). This is the low hanging fruit.  Let’s start with money capital in which India is starved and therefore needs to open up FDI more. I applauded when the FIPB (which had morphed into the Foreign Investment Prevention Board in practiceContinue reading “Part 7 of What needs to be done to get INDIA back into 8% growth …. How to unleash capital in the service of Indian growth”

Part 6 of What needs to be done to get INDIA back into 8% growth …. Criticality of labour reforms

Labour reforms are not just about rules of hiring and firing. Probably because agricultural and early industrial societies required only base labour and capital was the constraint only base labour was considered as a factor. To get into the right mindset, we need to now think broadly about human capital management policies !  From an entrepreneur’sContinue reading “Part 6 of What needs to be done to get INDIA back into 8% growth …. Criticality of labour reforms”

Part 5 of What needs to be done to get INDIA back into 8% growth …. land reforms needed to unleash India

China is on track to become the largest economy in the world on the back of massive industrialisation and movement of agricultural labour to factory workers to become the factory for the world. While India remains stubbornly rural with close to 50% of the population still dependent of agriculture.  The zamindari abolition (redistribution of landContinue reading “Part 5 of What needs to be done to get INDIA back into 8% growth …. land reforms needed to unleash India”

Part 4 of What needs to be done to get INDIA back into 8% growth …. how to leverage Indian entrepreneurial culture in nation building

The invention of the joint stock company with limited liability was the single most important invention to unleash entrepreneurship. This allowed entrepreneurs to take business risks without the risk to life and liberty and led to an explosion of business building.  India is a land of entrepreneurs(Including the small farmers and unorganised vendors) surrounded byContinue reading “Part 4 of What needs to be done to get INDIA back into 8% growth …. how to leverage Indian entrepreneurial culture in nation building”

Part 3 of What needs to be done to get INDIA back into 8% growth …. Free markets and confusions relating to it

Free markets allow for everyone to have access to all factors of production equally, for prices to be determined fairly and for anyone to have the ability to enter and exit any business.  Free markets have a very bad press in the liberal left media. Paraphrasing Winston Churchill’s famous quote on democracy “free markets isContinue reading “Part 3 of What needs to be done to get INDIA back into 8% growth …. Free markets and confusions relating to it”

Part 2 of What needs to be done to get INDIA back into 8% growth …. Why is stable, fair and transparent Rule of Law critical for a well functioning economy

A stable, fair and transparent rule of law allows for 2 very important things : 1) No coercion of any sort and 2) Contracts can be enforced.  Let’s take the latter first. If contracts can be easily and timely enforced, it creates a high trust society, which increases efficiency all around. In the absence of abilityContinue reading “Part 2 of What needs to be done to get INDIA back into 8% growth …. Why is stable, fair and transparent Rule of Law critical for a well functioning economy”

Part 1: What needs to be done to get INDIA back into 8% growth by Deep Mishra

Classical economic theory from the time of Adam Smith and Karl Marx considered the four factors of production as Land, Labour , Capital and Entrepreneurship. This model was appropriate for Basic agricultural and emerging industrial societies but can be tweaked to encompass factors which are relevant for the modern post industrial era as well. For theContinue reading “Part 1: What needs to be done to get INDIA back into 8% growth by Deep Mishra”

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