062 - Inclusive Growth and Issues Arising From It

India needs a targeted region-specific action plan in order to achieve an equitable distribution of fruits of prosperity, owing to its geographical diversity and varied levels of development across regions. Elaborate.

India has a wide variety of geographical challenges which are compounded further by the wide spread regional disparities. It has led some to opine that a targeted region-specific action plan is the way forward. Geographical Challenges: The complete North India along the Himalayas is prone to earthquakes. The Western area of India is mostly arid ..

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Economic policies focused only on quantitative aspect of growth have not shown trickle-down effect. Inclusive growth only can ensure equitable distribution of fruits of progress. Elaborate.

Earlier economic policies were focused on growth, a quantitative approach. It was believed that ultimately prosperity would ‘trickle-down’ to the masses. However, rising inequality, hunger, disease, low-wages, poor education & healthcare are causing societies to talk about development & inclusive growth. Inclusive Growth: As per OECD, inclusive growth is that which is distributed fairly across ..

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The need of the hour is to do away with traditional accounting methods like GDP calculation and move towards more comprehensive methods that accounts for Natural Capital and Ecosystem Services as well to establish link between economy and environment. In this context, discuss the initiatives taken by India.

Natural capital and Ecosystem services (NC&EC) refers to value stored in land, water, forest, and other natural resources, e.g. Forest – provisioning food, shelter, disaster resilience, etc. Accounting for natural capital and ecosystem services is crucial for realizing their importance, as well as understanding the economic link of environment with economy: Accounting in GDP – ..

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Pradhanmantri Jan Dhan Yojna has played a significant role in increasing financial inclusion. Analyze its performance in achieving its objectives.

Pradhanmantri Jan Dhan Yojana (PMJDY) was launched in 2014 to achieve the financial inclusion of unbanked sections of the society, with an aim of at least one bank account per household. PMJDY has become one of the most successful schemes of the government of India, with many achievements like: More than 44 crore new bank ..

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It is often argued that a circular economy has solutions to the economic problems in India. What are the principles on which circular economy is based? Discuss its relevance in India.

The circular economy is a concept, that involves using and reusing resources again and again, in contrast to the linear economy which is based on the use and throw model. The circular economy is based on the 5R principle: Reduce – reduce extraction of resources. Reuse – reuse old and used products. Recycle – recycle ..

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The skill India mission of the government of India faces a 3E challenge, Education, Employment & Employability. Discuss and suggest measures to overcome these challenges.

Indian population has the advantage of being one of the youngest in the world. The focus on skilling the young Indian population began with a structural policy change with the Skill India mission in 2016. 3E challenge: Education: With an approximately 75% literacy rate, which is heavily skewed against women; India still needs to work ..

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