Context: 

The article analyzes the size of the Indian economy in context of distribution of economic growth.

India’s GDP growth: 

• Recently, India has overtaken the United Kingdom to become the world’s fifth largest economy.
• The London Based consultancy Centre for Economics and Business Research (CEBR) predicted that by 2035, India’s economy would reach $10 trillion and become the world’s third largest by 2037.

Why is the West attracted towards India’s growth?

• As India is not only a relatively rare democracy in the east but also the largest one in terms of population, Western countries see a possible alliance of interests. 
• India is not only a market for goods, its fast growth is an investment opportunity for the surplus savings of the West also. As a fast growing economy, investing money in India is likely to fetch the highest returns globally.

Disparity of economic growth and it’s distribution: 

• Centre For Monitoring Indian Economy Pvt. Ltd. shows that the growth of the national economy has not generated an equal growth in employment.
• For the mass of the unemployed, concentrated in agriculture, growth of the IT sector or of exportable manufactures has not been of much use as this is a cohort with low education and skills. 
• Currently, we do not have an employment policy, either at the Centre or in the States. Welfarism, defined by the free or subsidised distribution of private goods, is no substitute.
• Plans for infrastructure aimed at religious tourism are implemented in States that have only recently witnessed landslides and flooding.
• Growth is pursued with a view to enhancing the electoral prospects, without concern for a possible negative fallout. 

Conclusion:

• Economic growth should lead to employment opportunities for a growing population of youth and a creative economic management of the growth process would be necessary to bring about the positive changes.                                                                                                                                                        

News Source: The Hindu