To fully exploit its demographic dividend and accelerate economic growth, India needs to adopt a manufacturing-led growth model. Discuss. (Answer in 150 words)
Introduction
According to IMF, India's demographic dividend will last from 2018-19 to about 2054-55.
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Main Body
Manufacturing Led Growth Model: Mean better & stronger manufacturing sector to lead India's growth journey (lowest contribution only 17.3% to GVA) Need for this Model & Exploit Demographic Dividend: (1) Reap Benefit: of high workforce cloudependence - Ratio (Average age in India is 29 year) (2) Faster Growth: due to high workforce & productivity (3) Equitable Growth: in all region of all people (Vaxa Committee Report) People govt scheme for manufacturability - Fiscal incentive to industry to meet & growth (UK Sinha Report) - Skilled: to all people to keep divided (Harada Prasad Report) - Lean form China: which reaped it divided in 1990s
Aditya Mathur
Economic Development
Growth & Development
Manufacturing-led growth model and demographic dividend
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Paragraphs
analytical with international comparison
Tone