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Arvind Virmani
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Views expressed in the paper are personal 2
Bharatiya Model of Inclusive Development
1
Sabka Sath, Sabka Vikas, Sabka Vishwas,
Sabka Prayas
Arvind Virmani
2
India has recorded steady growth despite domestic and global challenges, including, once in
a century pandemic COVID-19 followed by an oil price shock. Many of the ideas that
have motivated Indian policy makers are also gaining acceptance in the developed
countries and across the World. India’s indigenous development strategy has not been static,
but has evolved & developed with experience and changing national & international
environment. It is therefore an appropriate moment to attempt a formalization of this
development model. The Indian model of inclusive growth, viewed from a development
economics perspective, has three pillars: (1) Market economics, (2) Empowerment, and (3)
Pragmatism.
1. Indic Market Economy
Private initiative & competition is driver of growth & productive employment. Business has a
key role in the economic life of the nation, producing & selling goods & services and
creating/generating jobs. All forms of business are part of this economic life: Companies,
Micro, small & medium enterprises, self-employed, traditional and modern, domestic and
foreign business.
Government is creating, and will continue to create, the economic and social environment, so
that such entrepreneurship can thrive and grow in every community, social & socio-economic
group, residing in every region, geography, of this vast and varied sub-continent.
Experience has shown that Govt monopoly over resources and economic & social activity, is
inefficient, because the nature and incentive structure of Government, inevitably produces
1 The first article of the Constitution of India states that "India, that is Bharat, shall be a union of states," implicitly codifying
"India" and "Bharata" (Hindi: भारत, Romanized: Bhārata) as equally official short names for the Republic of India.
2 Author is Member, NITI Aayog. Any views expressed in this Paper are those of the author(s) and should not be attributed to
NITI Aayog or the Government of India.