It’s time we realised our full potential to 10 per cent growth: Arvind Panagariya

Syllabus: GS-III

Subject: Economy

Topic: Growth Development and Inclusion

Issue: Indian Economy – Growth

Context: Interview of Dr Arvind Panagariya, the Chairman of the 16th Finance Commission.


  • “7% growth has shown for almost 20 years now. It’s time the economy realised its full potential to 10%.”
  • Reforms Suggested:
    • Lower tariffs: Many of the tariffs are still high which hinder the building up of the supply chains.
    • The four labour codes have to be implemented.
    • Commitment of the government on privatisation, both the Public Sector Undertakings and the banks.
    • Continue to make India a friendlier place to do business.
  • There is a need to bring down the workforce in agriculture from 45% to 30% in the next 15 years.

Prelims Connect:

Privatization: The transfer of ownership, property or business from the government to the private sector is termed privatization.

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