💨 Abstract

The article discusses the slowdown in the Indian economy and the gap between economic growth and social inequality. The authors argue that most of the benefits of past growth have gone to the top ten percent of the population, leading to a bubble in aspirational consumption. The future growth is also expected to benefit this segment, raising concerns about whether India will become a developed country by 2047, or grow old before it becomes rich.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖