Deepak GodaraCSE 2024 · 212 wordsTheir whole copy
Opening · a definition
Inclusive growth according to World Bank is the growth that is equally spread across all sectors of economy and all sections of society.
Body · points and prose
Parody
| Economic growth | lack of inclusive growth |
|---|---|
| 1) GDP growth rate above 7% last 7-8 years (IMF Global economic outlook) | 1) Inequality (Oxford Report Top 10% → 74% wealth) |
| 2) one of the fastest moving economy (RBI) | 2) MPI poverty (UNDP) 27 Crore MPI poor. |
| 3) unempoyement rate 8.1% (CMIE) |
Hence these requires a multidimensional Approach →
Bottom up Approach : As Trickle down Approach have failed to bring inclusive growth. Eg ELI scheme in Budget 2024 (employment linked incentive)
Focus on Manufacturing sector which has led only to stagnant growth. Skipping of this sector. By Labour Intensive jobs in Textile, Apparel, Food processing.
Focus on Agriculture sector by → Doubling Farmers Income (Ashok Dalwai Committee) → Food processing Industry → CAGR → 15% → Technology (Drones etc in Agriculture)
Unemployment to be resolved by schemes like PLI, Digital India.
Skill Development only 48% graduates are employable. (India Skills report)
Close · a vision
Hence by following Approach of Human Development (Amartya Sen) India can Aspire for Developed Nation by 2047
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