Book Review- Breaking the Mould

An interesting book I came across this year is one  by our former governor of RBI (Reserve Bank of India) and distinguished visiting professor of Chicago Booth School, Dr. Raghuram Rajan," Breaking the Mould." It co-authored with a postdoctoral fellow at Cambridge Dr. Rohit Lamba. 

In short, this book is an amazing piece of intellectual work. The way the authors have put in the thoughts, of how policies and good governance with the best possible ways to implement them will help nations prosper is seamless in terms of the flow of thought. A bit of how our nation is said to have progressed over the years is one of the good ways of storytelling that continues to flow in the book. 

The book also throws light on the prospects of how our nation has the potential of having a full-scale manufacturing plant rather than mere assembly plants. The workforce is equipped with the techniques and knowledge which is yet to be tapped into. The urge for the governments to bring in manufacturing units rather than assembly plants is very well emphasized. Examples of India's successful business models cited point to the fact that the nation has the potential to grow better in manufacturing products, gradually helping grow many opportunities for our growing population. 

With the level of population, we have the emphasis on health to be given more importance. A need to spend more on providing better healthcare facilities to all sections of society. With the budget presented every year, the percentage of the total budget on healthcare is said to be less than ten percent. I feel that this aspect has put food for thought in terms of how much more needs to be done in order to keep our citizens healthy and also help everyone to get easy access to good healthcare services. 

India may be one of the first nations who is said to have embraced digital technology in the last decade. The creation of UPI and making payments easier to people with mobile phones is said to have made the transactions, quick and transparent. 

The need to prioritize our human capital by giving more opportunities and creating jobs across- low to high-end sectors can leap our nation many folds. The need to encourage the entrepreneurs in our nation with all possible support from governments will help accelerate highly skilled jobs in our nation. Along with this the need to encourage creativity and encourage new ideas of development- can propel our nation to better heights. 

The need to emphasize more on quality products and services is one of the aspects India needs to focus on, the authors point out. In recent times, there were claims where different segments of manufacturers claim to reach milestones of production, of their goods, quality is what propels a nation of good products. The need to be recognized as a manufacturer is what we as a nation need to aim for. 

Overall, this book is recommended to everyone who wants students and readers across the spectrum to know more about how a democratic government and good policies can shape a nation to a superpower status. It will give ideas to young minds to focus on and work towards making our economy strong and sustainable.