New think tank on economic growth means business

The Economic Development Society, aimed at looking into various issues vital to the economic development of the country, was inaugurated by Governor Banwarilal Purohit on Friday.
Governor Banwarilal Purohit interacting with the president of Economic Development Society and Vice-Chancellor of VIT University G Viswanathan during the inauguration of Economic Development Society in the city on Friday | Ashwin Prasath
Governor Banwarilal Purohit interacting with the president of Economic Development Society and Vice-Chancellor of VIT University G Viswanathan during the inauguration of Economic Development Society in the city on Friday | Ashwin Prasath

CHENNAI: The Economic Development Society, aimed at looking into various issues vital to the economic development of the country, was inaugurated by Governor Banwarilal Purohit on Friday.
The society will look at issues pertaining to agriculture water management, education, sports, healthcare, infrastructure, among other areas.

Speaking at the inauguration, Purohit said, “The benefits of growth should reach all sections of the society and the economic inequality as evident by the GINI coefficient should not be large. This will be possible only when access to education including higher education is provided to all.”

The society formed in April this year will make suggestions in areas that include eradication of poverty and illiteracy cutting across caste, creed, language and religion, to aid governance.

G Viswanathan, Chancellor, VIT University and president of the Economic Development Society, said, “A lot of water is being wasted. For instance, 3,000 tmc of the Godavari water is going waste into the sea and it can be brought to the Cauvery.”

“Similarly, Tamil Nadu alone has spent `40,000 crore in the last 10 years towards MGNREGA. People in rural areas opt to work under the scheme instead of working in farms because they get paid without doing any work. This scheme has to be reconsidered to make sure work is done,” he added.

The roles also include advising the government on ways to improve the gross enrolment ratio and to fix subsidies and various allowances and also advising over the issue of linking of the rivers across the country.

S Ranganathan, general secretary, Tamil Nadu Cauvery Delta Farmers Welfare Association, said, “Agriculture should be given as much focus as industries by the Central Government.”

The office-bearers of the society are G Viswanathan, Founder and Chancellor, VIT University, Palani G Periyaswamy, chairman, PGP group, Chennai, R Veeramani, GEM group, Chennai, Krishna Radha Krishna, founder and State president, Women Entrepreneurs Welfare Association, Tamil Nadu and Vedagiri Shanmugasundaram, former VC, Manonmaniam Sundaranar University, Tirunelveli.

Need to address economic inequality

The benefits of growth should reach all sections of the society and the economic inequality as evident by the GINI coefficient should not be large, said Governor Purohit

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