Unfulfilled potential: let’s attract more foreign direct spending to help keep a steady external balance
In other words, we can address India’s balance of payments problems by making our cities liveable. The ugliness, pollution and shabbiness of our habitats is not only giving us a low quality of life, but also undermining our macroeconomic strength and geo-economic power. Ergo, making our cities liveable becomes that rare public policy objective that not only cuts across Union, state and municipal governments, but also institutions such as the Reserve Bank of India.
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