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...It has often been used to describe economic models where one section of a country’s economy is booming, while others are lagging behind. In recent years, this was the case in Australia, where the mining and commodities boom shielded the pain of sectors such as manufacturing and retail, and in China, where the export and manufacturing sectors overshadowed other issues. The key concern is that such an economic model is unbalanced and risks hurting growth in the long run. Most economists and observers agree on this. However, when it comes to India, there is a strong case for a two-speed economy. The slow runner The Indian government has unveiled a range of initiatives over the past year that will have a big impact on economic growth. The two biggest ones have been the passing of the goods and services tax (GST) Bill, the biggest reform in India’s indirect tax structure, and the more recent demonetization move. ...Live Mint on Feb. 10, 2017, 4:32 a.m.
...It constitutes 10% of the overall exports. Over 58% of rural households depend on the sector as their principal means of livelihood. Most importantly, it feeds more than 1.2 billion people. Driven by a growing population, in particular an expanding middle class with higher incomes, the sector has seen a sustained increase in demand, especially over the past decade. India, however, continues to face significant bottlenecks in feeding nutritious food to a large chunk of the population, leading to issues around chronic undernourishment and malnutrition as well as lifestyle diseases. To feed the currently undernourished population, India would require a 3-4% increase in food supply. With the population expected to grow even further, the strain on the sector is likely to grow more in the coming years. Diet diversification The generally observed trend is that rising incomes lead to diet diversification—away from staple grains and towards higher-cost foods like poultry, fruits and vegetables, and dairy products. ...Live Mint on Dec. 19, 2016, 3:54 a.m.