Former World Bank chief economist Kaushik Basu advises Indian government to prioritize citizen welfare, allocate more funds to manufacturing, and tax the rich to create jobs in the upcoming Union Budget.
Former World Bank chief economist Kaushik Basu urges the Indian government to focus on citizen welfare and allocate more funds for the manufacturing sector in the upcoming Union Budget. Basu suggests that focusing on GDP growth may lead to rising inequality and high unemployment. He believes that the rich can afford higher taxes, and using this money to boost the manufacturing sector can create jobs and stimulate demand for labor.
July 16, 2024
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