AIR 31 · CSE 2022 · GS3 · 54 pages

Priyansha Garg: GS3 answer copy

18 answers by Priyansha Garg, as written in the test. Each question opens a page with how other toppers answered it.

The questions

The answers

Question 1 · 10 marks · 152 words written

"No major country has managed to reduce poverty or sustain economic growth without a robust manufacturing sector." In this context, discuss the need for a new industrial policy in India.

Opening · a figure

India aims to revitalise its manufacturing sector to make it $1 trillion by 2025.

Importance of manufacturing sector

Body · points

  1. Production based economy is important to reduce poverty.
  2. Important to not fall in middle income trap.
  3. Create demand and increasing purchasing power simultaneously.
  4. Create self reliance and reduce dependence on imports.
  5. Boost large scale employment.

Need for new Industrial Policy

  1. Stagnant contribution of manufacturing at ~25% of GDP.
  2. Address perverse incentive of MSME to stay small.
  3. Ensure job oriented growth and reduce disguised unemployment of agriculture.
  4. Improve exports and hence reduce CAD (which is at 2.4%).
  5. Develop a virtuous cycle of growth and employment by nudging manufacturing sector to perform better.
  6. Reduce dependence on agriculture (49% of labour force) and sustain service sector.
  7. Develop electronics market in India.

Close · a summary

Hence a New Industrial Policy is need of the hour to boost manufacturing sector.