India is poorer than the world average and so naturally has a greater percentage of poor people and a lower percentage of rich people. Yet using absolute numbers, India has more of almost everything, which is misleading, says Debraj Ray and Maitreesh Ghatak.
Economists Maitreesh Ghatak, Parikshit Ghosh and Ashok Kotwal challenge the prevailing view that the diminished electoral prospects of the United Progressive Alliance government is the result of neglecting growth to launch populist welfare schemes. They look at a wide range of economic indicators to argue that compared to the National Democratic Alliance regime, the UPA period has been characterised by faster growth, higher savings and investment, growing foreign trade and capital inflows, and increased infrastructure spending in partnership with private capital.
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