4 days ago
Kaushik Basu Says India’s GDP Growth Isn’t Reaching Everyone
India’s economy is growing quickly, with the latest reported growth figure at 7.8 percent.
But a big growth number does not necessarily mean that everyone’s life is getting better.
People are still asking whether there are enough jobs and whether inequality is growing.
Economist Kaushik Basu says it is important to look beyond the headline number.
He has worked as a top economic adviser in India and as chief economist at the World Bank.
His new book looks at changes in India and the world economy.
He also says artificial intelligence may change the kinds of work people do.
This could make it harder for India to grow manufacturing and create jobs if its opportunity window narrows.
India’s latest headline GDP growth figure is reported at 7.8 percent.
The article contrasts strong growth with concerns about jobs, inequality and everyday living standards.
Kaushik Basu is a former Chief Economic Adviser to the Government of India and former World Bank chief economist.
His latest book is titled The Indian Economy: Navigating a Global Turning Point.
Basu argues that artificial intelligence could narrow India’s opportunity to expand manufacturing and create jobs.
- Who
- Economist Kaushik Basu, interviewed by The Quint.
- What
- Basu discussed India’s economic growth, jobs, inequality, manufacturing and artificial intelligence.
- Where
- The interview was published by The Quint and concerns India’s economy.
- When
- The interview date is not stated; it discusses the latest GDP figure as 7.8 percent.
- Why
- The discussion considers whether headline economic growth is improving ordinary Indians’ lives as technology and global economic conditions change.
Headline Growth
Concerns Beyond GDP
What strong GDP growth says about the economy
Headline Growth
The latest headline figure of 7.8 percent indicates robust economic growth.
Concerns Beyond GDP
The article says questions remain about what the figure captures and whether growth is improving ordinary Indians’ lives.
Technology and job creation
Headline Growth
India has an opportunity to expand manufacturing and create jobs.
Concerns Beyond GDP
Basu argues that artificial intelligence could narrow the time available to expand manufacturing and create jobs.
Key facts
- Latest GDP growth figure cited
- 7.8 percent
- Interviewee
- Kaushik Basu
- Former Indian role
- Chief Economic Adviser to the Government of India, 2009–12
- Former international role
- Chief Economist of the World Bank, 2012–16
- Latest book
- The Indian Economy: Navigating a Global Turning Point
- Issues discussed
- GDP measurement, jobs, inequality, manufacturing and artificial intelligence
Sources
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