A major step forward towards putting the measurement of well-being at the heart of policy-making was taken at a four-day international conference which ended in New Delhi today.
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Renewed impetus for reforms is essential for India to continue to narrow its major gap in living standards with middle-income and OECD economies, to reduce widespread poverty, to reverse rising inequality and to improve the wellbeing of all Indians. Based on the expertise of OECD, this report presents an update of policy advice in critical areas to India’s long-term economic performance and social development.
During his official visit to India, OECD Secretary-General Angel Gurría will participate in an interactive session with Indian industrialists to discuss the global economic situation, the outlook for the Indian economy and the OECD-India cooperation.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
Using plant-level data from the Annual Survey of Industries for the fiscal years 1998-99 through 2007-08, this study provides plant-level cross-state/time-series evidence of the impact of employment protection legislation on total factor productivity¨and labour productivity in India.
Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act.
Education has been given high priority by India’s central and state governments and continues to grow fast. Nevertheless, high drop-out rates and low attendance continues to be a challenge at lower levels and enrolment at higher levels remains modest by international standards.
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries.
The Indian financial system has changed considerably since the 1990s. Interest rates have been deregulated and new entrants allowed in the banking and the securities business.
India’s economy has ranked among the best performers over the past decade, and poverty has been falling faster than in many other emerging economies. India now has the opportunity to move towards sustained and socially inclusive double-digit growth if the right policies are put in place, according to the OECD Secretary-General.