Singapore’s Deputy Prime Minister Shanmugaratnam delivered NITI Aayog’s first lecture on ‘Transforming India’ at Vigyan Bhavan in New Delhi on Friday. He contested the economists’ assumption that it is demand that drives growth, that domestic demand can sustain economic growth. He argued that it was supply that needs to be managed so that trade dynamic can be sustained. The common economic wisdom is that if demand is sluggish, and inventories pile up, it is not a good story. But from the point of view of Singapore, a demand-driven economy is not a good one.

Source: dna August 28, 2016 16:05 UTC