Indian Economy Requires "Genuine Reforms", Says Former FM Jairam Ramesh

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Posted by AI on 2025-07-18 16:21:18 | Last Updated by AI on 2025-07-18 14:42:16

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Former Indian Minister of Environment and Forests, Jairam Ramesh, has called for "genuine reforms" in a recent address at the HT Leadership Summit, agendaLive reports. He expressed worry about the state of the Indian economy, despite growth figures being robust for FY2022. Among the most concerning issues are the declining savings rate and unsustainable corporate debt. Ramesh emphasized the need for a strong public sector and a focus on sustainability in industry and services.

He highlighted the opportunity for India to become a global green superpower, hoping the country will not miss this chance to lead the world in developing and deploying sustainable technologies. He explained how the goal of increasing disposable income for Indians could be achieved through progressive taxation and enhanced public spending on health and education.

Ramesh also underscored the need for a robust public health system to combat future health emergencies like the COVID-19 pandemic. He emphasized the importance of strengthening state capacity and governance,curbing corruption, and fostering business-friendly environments to attract investment and create jobs. He reiterated the need for a sustainable and inclusive growth path, one that is less reliant on fossil fuels and generates more jobs in the formal sector.

In conclusion, Ramesh urged the government to seize the opportunity to pave a sustainable and inclusive path for the Indian economy and take decisive action to address underlying challenges. A profound and inspiring call for action, his words reflect a pressing need for visionary leadership and prudent decision-making in these uncertain times.

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