'The capability of the Indian State to implement programmes and policies is weak -- and in many domains it is obviously not improving. In police, tax collection, education, health, power, water supply -- in nearly every routine service -- there is rampant absenteeism, indifference, incompetence, and corruption,' says Professor Lant Pritchett.
Despite being a "star performer" in terms of economic growth, India will take at least another 34 years to achieve the 1950s' GDP level of the United States, a senior World Bank economist said in Chennai on Thursday.
India needs to work on economic parameters to outpace China.
'Education will definitely benefit by making the child's first language the medium of instruction, by making examinations less prone to rote-learning, by setting up national research universities, all recommendations of the NEP,' observe Pankaj Jain and Shreekant Sambrani.
Though growth in China is unlikely to slow down soon, India should prepare to take advantage of a shifting of gears there.
'I did not bother to collect my diploma certificate because the course was a waste of time and more or less useless. It would be instructive for me to describe it because manufacturing is seen as the way out for India's great unemployment problem. It is? I do not think so,' says Aakar Patel.
'This is social reform, which has to be conducted from within society and by its institutions, like religious bodies, not by public officials and ministers. That is why I think the big change Modi seeks is actually not in his power to bring about,' says Aakar Patel.
Without reforms to boost returns for multinational capital, Narendra Modi's 'Make in India' campaign will face testing times.
Global economy will have to grapple with few tough situations in 2015.
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