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Last Updated : Jun 25, 2019 08:00 PM IST | Source: Moneycontrol.com

India's key policy focus should be on growth: Economist Rakesh Mohan

Mohan added that to have such policy focus, it would be important to redesign NITI Aayog, the government's policy think-tank.

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Growth targets need to be the key focus for policymakers like it was during the Planning Commission days, economist and former Deputy Governor of the Reserve Bank of India Rakesh Mohan said.

"A handful of countries grow continuously, but to achieve high levels of growth there has to be top level policy focus. Until recently, growth targeting was important in post-Independence India," he said while speaking at an event on June 25.

Mohan added that to have such policy focus, it would be important to redesign NITI Aayog, the government's policy think-tank.

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"It is essential to redesign NITI Aayog to achieve that kind of growth. It also needs to have the power to allocate funds and communicate with the private sector," he stated.

Mohan also said that India doesn't have the money to fund a programme such as Universal Basic Income.

Shankar Acharya, Honorary Professor at Indian Council for Research on International Economic Relations and former Chief Economic Adviser to the Government of India, who was also at the event, added that it is important to revive employment and exports to revive growth.

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First Published on Jun 25, 2019 08:00 pm
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