Published On: Thu, Jul 7th, 2016

India must address disturbing issues effectively to embrace growth: Stiglitz

If India wants to grow as an open economy, it must address disturbing issues like JNU controversy and NGO controversy effectively, says Nobel laureate Joseph E Stiglitz.The world renowned economist was speaking at a function organised to discuss Global inequality at Bangalore.While speaking to media reporters, he claims that the clampdown on NGO activities as well as student’s activities have badly tainted the image of the country. He added that it would negatively affect the economy of the country and its growth rate. The investors may not be interested to invest on such a country, it further added.Throughout his statement, he criticised the country’s harsher regulations on the NGO activities, which, in fact, extensively contributed to the growth and welfare activates.

Moreover, he also pointed out JNU controversy to elucidate the repression activities, exercised by the nation on student’s movement.He warned that these kinds of controversies will prompt the investors to compare the country with the authoritarian countries, like Turkey, Egypt and Russia. In fact, it will eventually affect the economy of the country.Meanwhile, Mr Stiglitz lauded the Mahatma Gandhi National Rural Employment Guarantee Act, which ensures ‘hundred day of work’ for the rural population.It is learned that MGNREGA is considered as one of the most-effective programs of poverty alleviation.It seems that the country must avoid controversies and focus on growth to strengthen the economy.

 

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India must address disturbing issues effectively to embrace growth: Stiglitz