Inclusive Economic Growth
The AIPC seeks ideas to build an economy that works for all Indians, not just for the few. National wealth is a joint enterprise of professionals, workers, farmers, entrepreneurs, investors and government. We all deserve a say in how this wealth is created and shared. Only 57 billionaires possess as much wealth as the poorest 70 percent of the country. The richest 10 percent in India own 80 percent of its wealth, while the richest 1 percent possess 58 percent of all wealth. We believe this is unjust and that we need to advocate for a model that is fairer and more sustainable. Professionals and entrepreneurs can have a big say in how our economic system evolves. That should be at the core of AIPC’s efforts.
- AIPC will create awareness about the importance of sustained and high economic growth.
- Support the creation of an investment climate that applies best practices from around the world.
- Advocate for modern infrastructure that will underpin economic development and job creation.
- Lobby governments at central and state levels to use taxpayer money effectively and efficiently and not continue to operate perennially loss making public enterprises.
- Focus efforts on a supportive environment for micro, small and medium enterprises (MSMEs) in terms of access to credit, basic public infrastructure, end of predatory regulatory environment, and full freedom to innovate.
- We need a modern approach to rural-urban transition. Our cities will become ungovernable, and perhaps unlivable, if we do not address the decay in our cities. As more Indians live in cities and suburbs, a new model of governance is required. The AIPC will propose new models of urban governance.
- We need a more progressive tax system. The professional class pays its taxes and has few means to reduce its tax liability and even fewer means to ensure taxes are spent well. Big businesses and wealthy people manage to get tax breaks making their effective tax rate lower than that paid by professionals. On the other hand, many well-off people remain out of the tax net. This must change.
- India must maintain an open stance on foreign investment and also to greater interactions between our economy and the global economy. We must resist protectionist elements within and outside India because we have more to gain by being open and inclusive.