There is a clearer recognition today that the net benefits from financial liberalisation in respect of any developing country would be enhanced only if complementary policies in non-financial sectors are followed. Finally, the existing international financial architecture is not adequate to prevent or mitigate the domestic and external effects of financial crisis in large economies like India.
The achievement gap between our students and their peers in other countries has narrowed but remains wide, and it is particularly large in the South. The school system must reward academic merit and diligence. It must guarantee a satisfactory level of education to all students, irrespective of their social background and geographical origin.