It was argued that state intervention in the Indian economy must aim at effective utilization of resource and active participation of market forces and private sector. According to India’s socio-economic diversification, the structure of inequalities has to be addressed when the market could be freed.

It is also vital that the state should provide for social capital investment for purposes of infrastructure development on issues to do education, healthcare and affordable housing. It will also mean that growth will be as inclusive as possible when the necessary investment is made. Schemes such as MGNREGA and PDS reduce poverty and improve degraded sections of the society. Regional imbalances have to be corrected through incentives to enable investment on areas of weak economy besides enhancing opportunity access. End.

The state also has to promote efficiency in markets by controlling monopolies, encouraging fair competition and supply of infrastructure. Organisations such as the CCI ensure that there is balance in the market, and that investors do not take advantage of small investors, while public investments ensures that transaction costs are brought down to enhance productivity. Market solutions can only be used if markets fail and externalities like environmental issues of public goods must be corrected.

The state can facilitate economic growth by simplifying the requirements affecting the private sector in order to foster public private partnerships and support for young enterprises leading to employment creation. Thus, Make in India and Startup India are the initiatives that combine market efficiency with the national agenda.

Thus, the specific actions of the state could be complemented by the liberalization policies, and these imbalances could be eliminated, effectiveness increased, and more durable economic growth achieved for the people’s benefit.