Stiglitz questions India’s economic roadmap

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Mukherjee and Stiglitz at the ISI convocation. Mukherjee and Stiglitz at the ISI convocation.
SummaryNobel prize-winning economist Joseph Stiglitz today raised questions on India’s economic roadmap — whether only the rich would get richer or whether the benefits of growth would be shared by the population as a whole.

Nobel prize-winning economist Joseph Stiglitz today raised questions on India’s economic roadmap — whether only the rich would get richer or whether the benefits of growth would be shared by the population as a whole.

Delivering the key-note address at the 46th convocation at Indian Statistical Institute (ISI), Baranagar, Stiglitz said, “There is no clear roadmap for where India is going today. Fifty years from now, does it see itself much as it is today - a divided country, only with the rich much richer, the poor perhaps a little better than they are today? Does it see itself evolving like the US where even the middle class has not been sharing the gains of growth? Where the rich live in gated communities, waited upon by the vast majority of the poor who earn in a lifetime but a fraction of what they receive in an hour? Or will India go down the path of those countries that have managed to have rapid, sustainable growth with the benefits of that growth widely shared within the population?”

Present on the dais was Union minister for finance Pranab Mukherjee, who listened to the lecture in rapt attention.

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