Date:02/04/2007 URL: http://www.thehindubusinessline.com/2007/04/02/stories/2007040205261500.htm

Back India's growth sustainable, says expert

Our Bureau

Thiruvananthapuram April 1 India's current economic growth appears to be sustainable, according to Prof Kaushik Basu of Cornell University in the US.

Delivering the seventh Joan Robinson Memorial Lecture organised by the Centre for Development Studies (CDS), he said that there is no denying that India's current growth rate is high, adding that economic indicators show that this growth is sustainable.

While the Government should pay attention to growth, it should also focus on policies for better income distribution and better management of poverty, he said.

`INEQUALITY'

Earlier, inaugurating a two-day seminar on `Indian economy: Historical roots and contemporary development experience,' also organised by the CDS, the Supreme Court Chief Justice, Mr K.G. Balakrishnan, said that despite the progress achieved, the world is still affected by poverty and deprivation.

"Inequality has created scepticism about the ability of globalisation to solve the country's problems."

BOOK RELEASED

Unless the common man is brought into the agenda, it will lead to frustration and protests as seen in many places around the world. An enlightening enquiry must be launched into what needs to be done, he added.

He also released a book titled `Institutions and markets in India's development: Essays for K.N. Raj,' in honour of economist Dr K.N. Raj.