Question 1 · 10 marks · 198 words written
Analyse the factors that have contributed to India's inclusive economic growth in the past decade.
Opening · a definition
The idea of inclusive economic growth entails contribution to growth from all sections of society and benefits of growth percolates down to all sections. Indian economy has grown to Rs 331 lakh crore on path of inclusive development.
Body · points and prose
FACTORS CONTRIBUTED TO ECONOMIC GROWTH (INCLUSIVE)
(1) Growth Rate: India being 4th largest economy of world → Increase in size of pie (Economic Survey 2024)
(2) Employment-led Growth → Fall in unemployment rate to 3.2% in 2024 (a) Make in India, PLI, & LI etc
(3) Increase in female labor force participation rate to 42% in PLFS 2024 → Hybrid work policies → legal measures like POSH → Schemes like Standup India
(4) Poverty alleviation as India's extreme poverty fell to 2.3% in 2024 due to schemes → PM Awas Yojana → Ayushman Bharat → Garib Kalyan Yojana
(5) Focus on Green Economy and Sustainability → Panchamrit Goals, Green Credit Program, Green Hydrogen mission
(6) Revenue Mobilisation like GST reforms, Faceless etc.
challenges (1) Rising economic inequality (10% own 77% wealth - oxfam) (2) stagnant manufacturing Growth (3) Automation Risks (-40% jobs)
Close · a framework
The idea of Sabka Sath Sabka Vikas is truly included in Saptarishi Goals of Budget (Annadata, Nari Shakti)