Reforming Social Protection for Economic Transformation

India is a low middle-income economy with a development policy that aims to promote it to a high middle-income economy, which requires both economic growth and structural transformation. This article turns the spotlight on some aspects of structural transformation, such as the movement to higher pro...

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Bibliographic Details
Published in:Economic and political weekly 2014-09, Vol.49 (38), p.19-21
Main Author: NATHAN, DEV
Format: Article
Language:English
Subjects:
COMMENTARY
Economic development
Economic growth
Economic policy
Employers
Employment
Higher education
Household consumption
Households
Informal sector
Labor productivity
Productivity
Working women
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Summary:India is a low middle-income economy with a development policy that aims to promote it to a high middle-income economy, which requires both economic growth and structural transformation. This article turns the spotlight on some aspects of structural transformation, such as the movement to higher productivity jobs, the formalisation of the vast informal sector, and the promotion of women as economic agents. The experience of other economies shows there is room for a higher share of social protection expenditure in India, but bringing that about would depend on increasing tax revenue and reducing subsidies that are not for the poor.
ISSN:0012-9976
2349-8846