Hyderabad, Oct 3 (UNI) ''Professionally-skilled Young India'' can emerge as a leading global economic power and achieve European standards of life by 2030, if it maintained the present growth rate of eight to nine per cent and enforce ''disciplined democracy'', Jawaharlal Nehru University Vice-Chancellor B B Bhatacharya said today.
If the social development of 'Young India' was given prominence and discipline enforced in all walks of life, India could surpass the 'aging' China, which would be in a position to achieve European standards of life by 2020, and the 'aging' Europe and the USA, Prof Bhatacharya, a noted economist said here.
He was delivering a lecture on ''India's Economic Growth in East Asian Perspective'', organised by the Institute of Public Enterprises here today.
India should invest in its youth, taking a cue from East Asian countries, which had achieved high degree of social development giving prominence to human resources development and achieving balanced and equitable growth.
Regional disparities have become more glaring now as better-governed states with better infrastructural facilities attracted more capital investment, he noted.
The economic growth rate in Bihar and Orissa was one-third less than Punjab in the 1980s and regional disparities had widened more now with states like Maharashtra and Gujarat growing by eight to nine times more than Bihar.
Had India given prominence to social development, Bihar, Uttar Pradesh and Orissa would not have remained backward, Prof Bhatacharya said. Better-governed states, including states in south India, attracted more investments than the central Indian states like Madhya Pradesh and Chhattisgarh, which had maximum natural resources.
Population dependent on agriculture was still high in India even as the services sector grew faster than industry and agriculture sectors, except in industrialised Gujarat. But the services sector did not absorb the rural population, unlike South Korea and Taiwan, he noted.