Any discussion on India’s global standing today is marked by two contrasting conversations. The first is on its fastest growing number of millionaires and its preparation for a mission to Mars; the other is a debate on whether the poverty line set at Rs 28 a day is realistic.

Irrespective of the side you take, the fact is that despite significant economic growth, there is a rise in economic disparity and marginalisation of the poor.

As India moves forward, the need is for inclusive growth. If the country wants to leverage its position as a growing economy, it first has to provide its people quality education, health services, housing and clean water, livelihood opportunities, gender balance, access to finance, good governance, justice reform, and environmental sustainability. The major challenge is in integrating economic growth, poverty reduction and social progress in ways that will narrow the gaps, address causes, and enforce accountability at the level of government, private sector, non-government and civil society.

Traditionally, the effort to ensure growth and development has been led by the Government, and supported by non-governmental organisations. However, due to the scale of effort needed and the limited resources available, only some issues have been accorded priority and not others.

In recent years, the private sector has increasingly been dedicating resources to deliver social and environmental benefits. However, this is largely done in isolation without integration with the larger ecosystem or vision of long-term sustainability.

Hence, there is need to energise the sector by bringing to the forefront enterprises that are integrating social purpose with business approach. The aim is to harness the potential of different sectors while working together to reduce inequality and poverty.

This calls for innovative working models and partnerships — which, in turn, requires an enabling regulatory and policy environment that recognises the potential of all stakeholders and unlocks it. For example, there could be a model where districts identify their needs and are empowered to reach out to potential stakeholders (NGOs, civil society, private sector).

Furthermore, there is need to economise and rationalise use of resources. Finding ways to increase the reach and impact of every rupee spent should be a key driving force.

Finally, there is need for a system to monitor and evaluate the implementation of programmes, which should be customised according to need.

We have an opportunity to identify new models of working together and generate a sense of greater responsibility and accountability. However, a dialogue between stakeholders is important to understand the reasons for change, and motivate opinion makers and political leaders in formulating a reform agenda.

Sudhir Singh Dungarpur is Partner-International Development Services, KPMG in India

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