If India’s GDP growth rate has to cross 10 per cent, the government will have to create a system that empowers entrepreneurs at the bottom of the economy with considerable capital in their possession. These enterprising risk takers reside in India’s many slums, but predominantly in Mumbai, and are best positioned to implement Peruvian economist Hernando de Soto’s idea – of adding the wealth held by them to the deploy-able stock of fungible capital.
@sonaliranade ability to sum up problems and its solutions in one beautifully written essay is remarkable. She wtites:
creating a system that empowers entrepreneurs at the bottom of the economy ie. informal economy into full-fledged capital in the formal property system in such a way that the capital becomes capable of multiple uses in the wider economy.
Encroachment and transactions are two different entities. Balancing, though not easy is possible.
Indian elites holding back wealth tied in slums. And here’s what Modi govt can do
@sonaliranade ability to sum up problems and its solutions in one beautifully written essay is remarkable. She wtites:
creating a system that empowers entrepreneurs at the bottom of the economy ie. informal economy into full-fledged capital in the formal property system in such a way that the capital becomes capable of multiple uses in the wider economy.
Encroachment and transactions are two different entities. Balancing, though not easy is possible.