Arvind Panagariya, former chair of the 16th Finance Commission and former chief economist of the Asian Development Bank, is Professor of Indian Political Economy at Columbia University and Director of the Deepak and Neera Raj Center on Indian Economic Policies at the School of International and Public Affairs.
Among Indian Prime Minister Narendra Modi’s most ambitious goals is to transform his country into a developed economy by August 15, 2047 – the centenary...