Analyse the factors that have contributed to India's inclusive economic growth in the past decade.
Main Body
As per World Bank Indo has uplifted 174 Million out of poverty in last 10years and extreme poverty rate fell to 5.3% in India. Inclusive Growth: Refer to the growth the benefit of which are shared by all sections of population Factors which contributed to India's Inclusive growth: 1) People centric policies: Cash incentives in form of PM KISAN, capacity building in terms of PM Koushal Vikas Yojang 2) Control over Inflation: Through country cyclical policies such Repo rate cut, Reduction in Inflation curbing on old uses and prices etc. 3) Digitalization: UPI Paytm saved 32000 crore in terms of leakages. 4) Capital Infrastructure spending boosting employment, Budget FY2 capital expenditure >11.6C crore 5) Policy reform to boost economic growth and MSME sector such as GST, MUDRA PORTAL, New definition of MSME. 6) Agriculture sector: Digitalization and better flow credit such as KCC and Digital ration, low employment elasticity, shaped recovery lagging, Malnutrition stinting 37% wasting 19%
Conclusion
India has been able to sustain economic growth and build capacity of population. However further reforms to tackle hunger and boost employment still required to achieve VISION 2047 goal.
29 words
Jayant Garg
Economic Development
Inclusive Growth & Issues Arising From It
Factors contributing to inclusive growth
186
Total words
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Paragraphs
analytical
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