Insightful economic planning

Sri Lanka could indeed be proud of its 7.4 percent economic growth rate but we are glad that the State is not being complacent about this but is addressing the all important issue of redistributive justice.

This much could be learnt from our front page lead story yesterday which extensively quoted the Deputy Governor of the Central Bank, W.A. Wijewardena. He said that the Government's 10 year development plan would ensure the doubling of Lanka's per capita income within the next six years while narrowing the wealth and income gap between the Western Province and the country's other provinces.

The latter point is of utmost importance from a development viewpoint. We need hardly mention that development is an even balancing of growth and equity. Growth minus equity is no development at all.

This is the reason why the country could be particularly happy that the income imbalance between the Western Province and the rest of the country is being addressed by the State in its development plans.

Thus far wealth and income-creation has been lopsidedly concentrated in Sri Lanka's Western Province, while the rest of the country's income-generation is yet to match Western Province wealth-creation standards. In fact a sizeable segment of the population in the North-Central and Uva Provinces is considerably poor.

Therefore, while the country's economic robustness as reflected in its economic growth, needs to be warmly welcomed, equal significance needs to be attached to the State's development plans aimed at narrowing wealth differences among the regions of the land. For, this is development in the truest sense.

The fact that the economy is in fine trim is proof that the country's productive system is continuously in motion despite some seemingly sizeable obstacles. All credit to the enterprising zeal and resourcefulness of Sri Lankans. The conflict is one such seeming hurdle which has failed to defuse the energies of the people. Endowed with a sound business sense, Lankans seem to be taking the challenges of the times in their stride.

The State is forging ahead with its development plans, come what may, and this courageous spirit needs to be lauded too. The Government's rural development programmes, such as 'Gama Neguma', 'Maga Neguma', and the 300 factories programme, have been much commented on.

We also note the priority attached to rural infrastructure development projects in the 10 year development plan. Encompassed in this broad sweep of development are the State's mega ports, highways, power and airport projects.

Besides generating more and more employment and further depressing the country's unemployment ratio, these development projects would greatly facilitate the productive system and help in the marketing of rural produce.

All in all, this development thrust would help in the expansion of our agricultural and industrial sectors which are lagging the services sector in growth and robustness.