An Impending Macroeconomic Crisis in India
432 views · Published 21 October 2013 · 18:44 · Indexed 29 October 2026
Channel: NewsClickin · 2013 · News & Politics
Deepak Nayyar, former Vice-Chancellor at the University of Delhi, spoke at a seminar on "Economy in Crisis" organized by Centre for Policy Analysis, New Delhi. He said that macroeconomic crisis in India have been triggered by a fragile balance of payments situation, and the answer lies in not only cutting expenditure, but also increasing income. Nayyar said that the present situation is just as bad as that in 1991. Increase in growth has failed to translate into an increase in employment. Crisis in social infrastructure such as education and health run deep, and India hasn't used industrialization to mobilize its human resource as yet. To address the crisis, there is a need for pro-active engagement of the government, he said.
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