India needs to address both micro and macro aspects for its development-Suresh Prabhu

A few days ago, Suresh Prabhu, Chancellor, Rishihood University and former Union minister for Civil Aviation, Railways, Commerce & Industry, Chemical & Fertilizers, Environment & Forest and Power, pointed out that for India's rapid growth and development it needs to address both the micro and macro aspects of its development strategy.

- Kishore Kumar Biswas

By macro aspect, he wanted to mean that in the continuing and somewhat pessimistic global economic situation, that has intensified out of geo-political problems in Europe, the government has to maintain some aspects like GDP growth, the balance of payments, current account deficits, foreign exchange, etc. with proper care. But the ultimate target should be to look after the improvement of the quality of life of the people of the country. So, the improvement of the quality of lives of the people was the micro aspect of the Indian economy, according to Prabhu. It means he is more concerned with the AN BER micro aspect which has to be fulfilled through macro aspects. Prabhu was speaking at "MCCI India Economic Forum 2022'conducted by the Merchant Chamber of Commerce and Industry at Kolkata. He was preceded by Mridul Sagar, Investor Education and Protection Fund Authority (IEPF) Chair professor at NCAER.