India needs more inclusive growth: OECD

NEW DELHI: NEW DELHI: India’s rapid economic growth has lifted 140 million people out of poverty in the past decade but many of its people still lack access to electricity and toilets, the OECD said on Tuesday (Feb 28).

GDP per capita has risen by more than five per cent per year since the mid-1990s and reforms introduced since Prime Minister Narendra Modi’s election in 2014 have “brought a new growth impetus and improved the outlook”, the Organisation for Economic Cooperation and Development said in a report.

But “growth has not been sufficiently inclusive on a number of dimensions, as reflected in a still high poverty rate”, the Paris-based group said in its 142-page country survey.

It added that spending on health care amounted to barely one per cent of gross domestic product.

India has been the fastest-growing major economy for much of Modi’s premiership and although the government…

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