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The gap between India’s potential and reality is reflected by the fact that the India Story continues to be defined, quote-unquote ‘emerging’ for three decades since 1991. India’s $ 2.8 trillion economy is at an inflection point. Hindsight, they say is 2020 and the year has many lessons. Here are five takeaways for Budget 2021. Invest in Human Capital: India’s strength is the scale of 1.3 billion aspirations. Yet, successive regimes have flailed at investing in developing human capital. The state of health care and the broken education system is illustrated by the ranking in the latest UN Human Development Report and the findings of the fifth National Family Health Survey. Take education. Literacy is necessary but not sufficient. What is critical is years of schooling. India with 6.5 mean years of schooling fares poorly Malaysia, for instance, boasts of 10.5 years and Korea 12.2 years, Brazil and China 8-plus years. Last week, the Health Ministry released the NFHS report

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