Question.
“Inclusive growth has now become the central point of developmental strategy.” Discuss the statement in the context of India. Also, suggest remedial actions to achieve this growth.
( UPPSC, UP PCS Mains General Studies-III/GS-3 2022)
Answer.
Inclusive growth is the economic growth that benefits all society or all individuals in society, regardless of their socio-economic background. Inclusive growth has a vital role in reducing poverty, reducing income inequality, creating jobs, reducing social tension, increasing overall happiness, and providing equal opportunities for all individuals.
Inclusive growth has now become the central point of developmental strategy in India due to significant social and economic disparities. India is home to a large poor population while few individuals enjoy high levels of income and wealth. The country is doing very well in economic growth but growth is not much inclusive as a large section of the population has been left behind.
To achieve inclusive growth in India, several remedial actions are required; Here are some suggestions-
Promoting education- Education is an essential factor in promoting inclusive growth as it creates a skilled workforce that helps in economic development. Government should focus on the quality of education for all individuals especially those from weaker sections of society.
Investing in infrastructure; Government should connect the hinterland to ports via roads, railways, and air; so that it creates new opportunities for businesses to grow, and help in the economic growth of the rural population.
Encouraging entrepreneurship; Startup India and Stand Up India are key for encouraging entrepreneurship in India, which will help the weaker section of the society like women and the SC/ST population in entrepreneurship and promote economic growth.
Promoting rural economy; Government should provide better access to healthcare, education, and employment opportunities in rural areas to reduce poverty and promote inclusive growth.
Reducing income inequality; Government should focus on reducing income inequality. This can be done by increasing taxes on the wealthy and providing social protection programs to the poor.
In conclusion, inclusive growth is very much needed for the sustainable development of any country as it reduces income inequality, reduces poverty, and provides social stability, and overall economic stability in the country. Inclusive growth can be achieved through a focus on education, infrastructure, health facilities, rural development, entrepreneurship, and reducing income inequality in the country.
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