Analyse the factors that have contributed to India's inclusive economic growth in the past decade. (Answer in 150 words)

As per IMF, India is the fastest growing large economy in the world with GDP of over $4 trillion. Factors that have contributed to India's inclusive growth: (1) Digitization through SARAL Trinity (2) Promotion of zero-balance accounts under Pradhan Mantri Jan Dhan Yojana PMJDY (3) Competitive federalism led financial inclusion through RBIs fiscal inclusion norms (4) Formalization of economy through GST led formalization (5) Increased credit availability in rural and agricultural sector through PM-KISAN (6) Promotion of MSMEs through MUDRA loans (7) SHG-led growth through SHG bank linkages (8) Promotion of participation of workers in labour force through LFPR, USTAAD, CFC (9) Skilling of workforce through labor-intensive sectors leading to infrastructure expansion (10) Promotion of greenfield manufacturing through PLI Scheme (11) Act for policy through PM-Disrupt (12) Low value addition and hence trusted growth

labor force (LFPR increased from 26% to 41.7% in 2024). Concerns/limitations: 1. Low value addition and hence trusted growth 2. Gender-disparity (LFPR in male is 82%) 3. Agricultural distress and hence high disguised unemployment post-COVID 4. Stagnant wages only 5. Efficient disparity (NCRH-Security) Topicization-led, manufacturing-focused growth can help us achieve goals of SDG-8