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Meeting No: 2513 624 8509
Password: development

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Abstract

Economic growth enhances total prosperity, increasing the economic pie in society, but the pie distribution determines how the population shares the pie. Based on a social welfare framework, we have developed an integrated methodology to evaluate growth and distribution simultaneously. Linking the two phenomena gives rise to four development goals: (i) pro-poor growth, (ii) inclusive growth, (iii) pro-poor development, and (iv) inclusive development. These four goals provide an alternative characterization of shared prosperity. The speaker will define the four goals and provide a methodology to measure them.

About the speakers

Arvind Virmani

Arvind Virmani is member of NIti Aayog. He was Chairman of the Foundation for Economic Growth and Welfare (EGROW) and President of the Forum For Strategic Initiatives (FSI, Delhi). He has been a Mentor (economic policy) to FICCI & a member of RBI Technical Advisory Committee on Monetary policy.

He was earlier Executive Director, IMF and Chief Economic Advisor, Ministry of Finance and Principal Advisor, Planning Commission. During his tenure he advised on a host of economic policy reforms, through 100s of policy papers, notes and committees. He has served as Member, Telecom Regulatory Authority of India (TRAI) and as Director & Chief executive of the Indian Council for Research on International Economic Relations (ICRIER).

He has published 35 journal articles and 20 book chapters and written over 50 other working papers in the areas of Macroeconomics, growth and finance, tax reform, International trade & Tariffs, International relations, and national security strategy.

Nanak Kakwani

Nanak Kakwani is appointed Distinguished Fellow of the Gulati Institute of Finance and Taxation in India, September 2021. He has been Visiting Professor of Economics at the China Institute for Income Distribution at Beijing Normal University, China, since 2017. He was a Professor of Economics and Head of the Department of Econometrics for 30 years at the University of New South Wales in Sydney, Australia, during 1970–2000. He was Chief Economist and Director of the UNDP International Policy Centre for Inclusive Growth in Brazil from 2004 to 2006.

Kakwani's research areas include poverty, inequality, pro-poor growth, taxation, public policies, human development, and social welfare. He has published more than 100 papers in leading international journals (including nine papers in Econometrica) and six books published by reputed publishers like Oxford University Press, Cambridge University Press, Palgrave Macmillan, and Edward Elgar.

He was elected as a Fellow of the Australian Research Committee of Social Science and wasawarded the Mahalanobis gold medal for outstanding contribution in quantitative economics. His well-known Kakwani Index has been a standard measure for progressivity in taxation and other social science.

Dr. Surjit Bhalla

Dr. S.S. Bhalla, is a Senior India Analyst for the Observatory Group, a New York based macroeconomic policy advisory firm and Chairman of Oxus Research & Investments. In 2017, he was appointed as Member of the Prime Minister’s Economic Advisory Council. He has been a member of the Secondary Markets Advisory Committee of SEBI and the National Statistical Commission of India. Dr Bhalla writes extensively on economic issues and has recently authored another book titled, The New Wealth of Nations.