Acclaimed economist Amit Bhaduri has called for putting in place an alternative development model focusing on generating employment rather than adopting the approach of GDP-centric growth.
Indian nationalism that was rooted in anti-colonial movements has shifted towards constructive nationalism. As the country is diverse, an alternative development model should be followed, focusing on the creation of employment instead of blindly targeting GDP centric growth, he said.
Mr. Bhaduri was delivering the keynote address on ‘Democracy, Development and Nationalism’ at the Periye campus of the Central University of Kerala here as part of the fifth K.N. Raj Memorial Lecture organised by the Department of Economics on Friday.
Government policy in the post-liberalisation regime has become corporate-friendly, but it did not have a positive effect on employment generation. As an alternative development strategy, there is a need for revamping the rural sector as enunciated by Mahatma Gandhi, he said.
Development should be initiated according prominence to rural growth instead of corporate-led growth as the latter leads to severe unemployment and inequality, Mr. Bhaduri added.
The function, inaugurated by Vice Chancellor G. Gopakumar, was presided over by K.C. Baiju, head of the Department of Economics.
Mr. Bhaduri also released the international journal of the Department of Economics, ‘JOGSE’, by handing over a copy to Mr. Gopakumar.
