Y K ALAGH, Pro­fes­sor of eco­nom­ics, Sar­dar Pa­tel In­sti­tute of Eco­nom­ics

Down to Earth - - DEBATE -

But, it’s not a ques­tion of in­sti­tu­tions alone. It’s also a ques­tion of giv­ing them cor­rect in­di­ca­tors on scarci­ties and ben­e­fits, which is what a bud­get re­ally does. I am ar­gu­ing for plan­ning. Plan­ning does not nec­es­sar­ily mean cen­tralised plan­ning but it means knowl­edge-based in­di­ca­tors and in­sti­tu­tional mech­a­nisms which will fa­cil­i­tate de­ci­sion-mak­ing. We should ba­si­cally work to­wards an in­sti­tu­tional sys­tem which takes en­vi­ron­men­tal costs and prof­its into ac­count.

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