Combining Welfare and Growth is a key for success.

 

The rapid decline in growth rates (2018-19 and 2019-20) triggered the rise in unemployment, the pandemic made it worse and the unplanned lockdowns exacerbated the situation.

130 million persons lost their jobs or livelihoods.

The abiding lesson of 2020 is that a nation will suffer if there is a decline in three measures — work, wealth and welfare.

work is pleasurable, enhances esteem, earns rewards and determines one’s standing among peers and in the society-at-large.

By last count, the unemployment rate in India was 8.7 % (CMIE, December 22, 2020).
In between, there are people who do not wish to join the work force and there are people who are home workers who are not counted as part of the work force.

 If the GDP grows, wealth is enhanced, and the average share of a citizen in the pie (per capita income) is larger.

A combination of unemployment and slow (or negative) growth will impact welfare.

 Food, healthcare and social security are indeed important, but welfare goes beyond material and tangible goods and services. 

the three abiding images of 2020 are:
  1. The millions of migrants — tired, hungry and sick 
  2. The long and peaceful protests — first at Shaheen Bagh and now on the borders of Delhi.
  3. The resounding vote in the Kashmir Valley comprehensively rejecting the unconstitutional coup staged by the government on August 5, 2019.

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