Make economic policy inclusive: Ahluwalia

Tribune News Service

Patiala, December 12

Dr Montek Singh Ahluwalia, former Deputy Chairman, Planning Commission, identified some issues such as poverty, regional inequality and most important inequality of income which he felt that econometrics could help in tackling. “Economic policy is a gut instinct. But constant examination of issues is a must.”

Speaking at the inaugural address of the 51st annual conference of The Indian Econometric Society (TIES) being hosted by the Department of Economics, Punjabi University, Dr Ahluwalia opined that there was a need to extend state-wise analysis of these issues to analysis within states. Further, no policy could be successful without it being inclusive. And inclusiveness cannot be confined to just poverty reduction, he said. He dwelt upon some other key areas for further research in econometrics such as means to produce useable skills and analysing factors hindering expansion of manufacturing sector.

Dr Ahluwalia pointed out that tackling these issues was not the work of just econometricians rather media had to play a role in building public consciousness regarding these. Around 300 delegates from all over the country and abroad are participating and presenting their papers. Besides, well-known econometricians Prof Mukul Majumdar, Cornell University, US; Prof SR Chakravarty, ISI, Kolkata; Dr and Chetan Ghate, ISI, Delhi, will give special lectures.