Economic experts delivered lectures on "Agriculture for Growth and Sustainable Development" and "Manufacturing: Startups and MSMEs" in "Economic Revitalization: Challenges and Policy Choices" in the first session of the 104th Annual Conference of the Indian Economic Association held in Bhopal. Ramesh Chand, Member, NITI Aayog presiding over the session stressed on inclusive growth. He said that industrial and agricultural development should go hand in hand. Prof PK Joshi, former Director, South Asia International Food Policy Research, said that the future of the agriculture food system will be based on innovation, policy and markets.
Joshi, while highlighting the important points from changes in agricultural food systems in the context of production systems, consumption system and market and trade, said that for sustainable farming system diversification towards nutrient rich food items, reducing food wastage is necessary and emphasised on increasing investment in food research and inviting finance by encouraging private sector, agriculture and food industry.
Shweta Saxena of UNESKAP in her presentation on How to Build Inclusive Green Resilient Economies said that the least developed countries and emerging markets have been affected by the Covid pandemic. Saxena said that we have to keep our preparations in such disasters. For this, the economy can be strengthened by integrating risk management in national planning and policy development, strengthening immunity, effective public debt management and disaster risk management systems.
Prof. Satish Verma of CPRID Chandigarh said that the biggest problem is that the cooperative society is included in the register. Wherever commission agents dominate, the challenge of FPOs increases, he added. Prof Verma while explaining the problem of the farmers and said that farmers take loans for domestic needs.
Prof Nagesh Kumar, Director, ISID, New Delhi in his lecture on Manufacturing: Startups and MSMEs said that Make in India is a timely step to reverse the trend of premature industrialization. Industrial transformation will be the next form of India's economic growth and prosperity.
Former Prime Minister Vajpayee had constituted the country's first Economic Advisory Committee
In the PR Brahmanand Memorial Lecture, former Prime Minister Atal Bihari Vajpayee's special duty officer, presently Chairman of the 15th Finance Commission and Economist NK Singh told that the country's first economic advisory committee was formed by Late Vajpayee during his prime ministership. He said that the earth has not been given to us by our ancestors, but it has been borrowed by us for the coming generations. It is our responsibility to entrust the future generations to be safe while protecting them from the dangers of climate imbalance, climate change and global warming. We can get better results by using renewable energy.
NITI Aayog member Prof. Ramesh Chand presided over the session and G.H. Raisoni University Amravati Prof. Vinayak Deshpande spoke on the challenges of climate change in the economic sphere on "Beyond Cop 26".
In this session chaired by Prof DK Nauriyal, former Vice Chancellor of Kumaon University, former member of Prime Minister's Economic Advisory Council, Prof. Shamika Ravi said that despite less resources as compared to developed countries, India has fought the epidemic like Covid very well. Health security is very important for the strong economy of the country. The health security sector should be the backbone of the country's economy.
Former Vice Chancellor of UGC Prof Bhushan Patwardhan said that the Covid epidemic has changed the attitude of people towards treatment. Not only did the Indian traditional medicine system emerge, it also won the trust of the people. Research has proved that ashwagandha is a better medicine than quinine. One and a half crore people followed Ayush's Sanjeevani app during this period. He said that the budget of AYUSH needs to be increased manifold. The importance of AYUSH should increase in economic policy making.
Prof Surya Narayanan of IGDR Mumbai emphasized on inclusive health policy formulation. He said that the lowest class person was most affected during corona. Prof. Narayanan said that there is a need to stop the exorbitant expenditure of private hospitals.