If benefits of expansion don’t reach the entire population, left-out sections won’t support any growth strategy, points out Nobel Laureate-led think tank
New Delhi, May 27: With cheap labour being one of the key ingredients needed to propel developing countries to a high-growth trajectory, the Commission on Growth and Development — a think tank comprising 21 leading practitioners from government and business — has said that “getting the labour market right is vital to both the economics and the politics of growth”. In a report The Growth Report: Strategies for Sustained Growth and Inclusive Development released here today, the Commission — which describes India and Vietnam as two countries that may join the group of 13 “miracle economies” — clearly spells out that it is vital to ensure that the benefits of economic growth reach the entire population. Failing this, it will be the same labour which will not lend “support” to any “growth strategy”, the study warns.
