Growth Would Be Meaningful and Inclusive Only if It Results in Improving the Standards of the Last Man, Says…

The President of India, Shri Pranab Mukherjee inaugurated the 98th annual conference of the Indian Economic Association (IEA) today (December 27, 2015) at Hyderabad.

Speaking on the occasion, the President said emphasis has to be on providing adequate employment opportunities. Growth would be meaningful and inclusive only if it results in improving the standards of the last man, as welfare economists are fond of saying. India is a young nation. With the bulk of our population in the working age group, it becomes imperative for government and the policy makers to come up with policies for achieving growth with job creation. Growth which favours the top deciles or an even lower proportion of the population can never be sustainable or desirable. Balancing growth with equity and social justice is a fundamental requirement of our democratic polity. A careful study of not just income disparities but also of their source is required. That is the urgent task for economists to undertake.

The President said the Paris Declaration or the green proposals for attaining socially just and environmentally sustainable livelihoods, shows the commitment of the world economies to the cause of environment. India being an important world player has to play a critical role towards attainment of these sustainable development goals.

The President expressed confidence that the deliberations of the 98th annual conference of the Indian Economic Association will provide valuable policy inputs to think tanks, trade associations and government at large. He stated that IEA’s regular interactions and participation in the International Economic Association’s activities would provide a great platform for Indian researchers to come up with policy prescriptions relevant to both India and the global economy.

This Press Release issued at 1500 hrs.