Reforms 3.0 — towards the Bharat rate of growth
The article argues that India should leverage Artificial Intelligence to transition from its historical growth rates to a sustained 8% 'Bharat rate of growth.' It suggests that the government should treat AI as a public good by subsidizing tokens for research institutions and schools.
Why it matters
It proposes a national strategy for economic development through technological adoption, mirroring the success of previous digital infrastructure projects like UPI and Aadhaar.
For 45 years after Independence, India grew at an anaemic 3% — the infamous “Hindu rate of growth”. Triggered by a balance-of-payments crisis, India found the gumption to liberalise. Within a decade, GDP growth surged. The lesson: crisis breeds reform, and reform breeds exponential outcomes. Artificial Intelligence (AI) provides the same transformational leverage that liberalisation provided in 1991. The question is not whether India can afford to invest — it is whether India can afford not to. After 12 years of Prime Minister Narendra Modi’s leadership, India has reached another WhatsApp moment in reform — dare I say, to take it from a Hindu rate of growth to the Bharat rate of growth — 8% and beyond for the next decade.
The article explicitly praises the current administration's leadership and critiques previous socialist-era policies.
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