Structural transformation growth sustainable development from "summary" of Indian Economy: Performance and Policies by Uma Kapila
The concept of structural transformation is essential for achieving sustainable development in the Indian economy. Structural transformation refers to the process of shifting resources from traditional, low-productivity sectors to more modern, high-productivity sectors. This transformation is crucial for fostering long-term economic growth and development. By reallocating resources from sectors with low productivity, such as agriculture, to sectors with higher productivity, such as manufacturing and services, countries can increase their overall output and improve living standards. This structural transformation is necessary to escape the cycle of poverty and underdevelopment that plagues many developing countries. In the context of India, achieving sustainable development requires a significant structural transformation in the economy. Despite the progress made in recent years, India still relies heavily on agr...
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