India being a consumption-driven economy, the world looks at us as an opportunity because of the vast population that we have our demographics and a ready market. We have the most number of people entering the job market and the lack of opportunities for them is a major concern the country is grappling with.
As we look at the contribution of education and healthcare to the inflation numbers, it is quite clear that while CPI has been about 6 per cent over last six years (since 2012), the education portion alone has contributed about 7 per cent. Healthcare and education contribute over 10 per cent weight to the CPI basket.
In order for India to be a more sustainable development model, there should be a balance between consumption and investment. It is important for us to focus on education and healthcare in a strategic way. The government as well as the private sector, including the rich households, should have to contribute to filling this void.