Inclusive Growth & Economic Development
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Music Therapy impact on humans health
Music therapy is a form of therapeutic intervention that utilizes music to address physical, emotional, cognitive, and social needs of individuals. Here's an overview of how music therapy can impact human health: Emotional well-being: Music can help regulate emotions, reduce stress, anxiety, and depRead more
Music therapy is a form of therapeutic intervention that utilizes music to address physical, emotional, cognitive, and social needs of individuals. Here’s an overview of how music therapy can impact human health:
- Emotional well-being:
- Music can help regulate emotions, reduce stress, anxiety, and depression.
- It can promote feelings of relaxation, joy, and improved mood.
- Music therapy has been used to manage emotional responses in individuals with mental health conditions.
- Cognitive function:
- Music activates various regions of the brain, improving cognitive abilities.
- It can enhance memory, attention, language, and problem-solving skills.
- Music therapy has been studied for its potential to slow cognitive decline in conditions like Alzheimer’s disease.
See lessThe Production Linked Incentive (PLI) Scheme is a cornerstone of the government's push for achieving an Atmanirbhar Bharat. Discuss. Also, mention the challenges in realizing its objectives.
The Production Linked Incentive (PLI) Scheme was launched in 2020 by the Union Government in three key sectors (mobile manufacturing and electric components, pharmaceuticals and medical device manufacturing) and was later extended to 11 other key sectors with a budget outlay of Rs 1970 billion to crRead more
The Production Linked Incentive (PLI) Scheme was launched in 2020 by the Union Government in three key sectors (mobile manufacturing and electric components, pharmaceuticals and medical device manufacturing) and was later extended to 11 other key sectors with a budget outlay of Rs 1970 billion to create national manufacturing champions and generate employment opportunities for the country’s youth. The minimum production in India as a result of PLI Schemes is expected to be over US$ 500 billion in 5 years.
Role in promoting Atmanirbhar Bharat Mission:
Challenges in realising these objectives:
Since its launch, the PLI Scheme has attracted much attention and various multinational firms are showing interest in investing in India under this scheme. Going forward, the government needs to ensure that the momentum gained by the scheme is sustained for a long-term growth.
See lessAccording to recent reports, the Indian gig economy will be booming in the next decade. In this context, discuss the issues faced by gig workers in India and policy measures required to address them.
A NITI Aayog report estimates that more than 7.5 million workers were engaged in the gig economy in 2020-21 in India. This could grow to 23.5 million workers by 2029-30, making up for 4.1% of total livelihood in India. The Gig Economy holds a great significance in India, as it provides advantages liRead more
A NITI Aayog report estimates that more than 7.5 million workers were engaged in the gig economy in 2020-21 in India. This could grow to 23.5 million workers by 2029-30, making up for 4.1% of total livelihood in India. The Gig Economy holds a great significance in India, as it provides advantages like democratization of jobs, enhancing social inclusion, cost-effectiveness, enhancing income etc. However, as gig economy is growing rapidly, gig workers face many challenges as follows:
Faced with the above challenges, following policy measures for gig workers are needed:
Providing social security for the rising gig economy workers is the need of the hour. Many such steps are being taken in this direction like RAISE Framework for operationalizing the Code on Social Security (CoSS), 2020 and Centre & States have been asked to adopt a five-pronged approach to ensure realisation of full access to social security for all gig and platform workers when they draw up rules and regulations under the code.
See lessWith focus on the methodology used by different committees, explain how the estimation of poverty has evolved in India since its independence.
The World Bank has defined the absolute poverty line as the percentage of the population of a country living on less than $1.90 a day (PPP) at constant prices at 2011 price levels. It can be measured either in absolute terms or in relative terms. In 1962, the Planning Commission constituted a workinRead more
The World Bank has defined the absolute poverty line as the percentage of the population of a country living on less than $1.90 a day (PPP) at constant prices at 2011 price levels. It can be measured either in absolute terms or in relative terms. In 1962, the Planning Commission constituted a working group to estimate poverty nationally, and it formulated separate poverty lines for rural and urban areas of Rs 20 and Rs 25 per capita per year, respectively. This early estimate was followed by the following Committees in India:
Currently, poverty estimation in India is carried out by NITI Aayog’s task force through the calculation of poverty line based on the data captured by the National Sample Survey Office under the Ministry of Statistics and Programme Implementation (MOSPI). Based on this, in 2011-12, the poverty line was defined for rural areas as consumption worth Rs 816 per person a month and for urban areas it was Rs 1,000 per person per month. Thus, the government uses Monthly Per Capita Expenditure (MPCE) as a proxy for income of households to identify the poor.
See lessHow can the availability of adequate and equitable distribution of natural gas in all parts of the country help in achieving uniform economic and social progress? What challenges India faces in this regard?
Natural gas is a multipurpose fuel that can be used for power generation, industrial processes, transportation, and domestic use. India's natural gas demand has been growing steadily and is expected to nearly double by 2030. Therefore, through the National Gas Grid, the government is trying to ensurRead more
Natural gas is a multipurpose fuel that can be used for power generation, industrial processes, transportation, and domestic use. India’s natural gas demand has been growing steadily and is expected to nearly double by 2030. Therefore, through the National Gas Grid, the government is trying to ensure its availability in all parts of the country as a reliable and cleaner source of energy. Its adequate availability and equitable distribution can stimulate economic activities, improve productivity, and enhance the overall standard of living in following ways:
Despite the potential benefits, there are several challenges India faces in this regard:
Nevertheless, expansion of the natural gas infrastructure and market will bring along several benefits like socio-economic empowerment, import-substitution, emission reduction, and green energy solutions at affordable prices. Further, natural gas shall address India’s energy security concerns to a greater extent.
See lessIt has been argued that despite several hurdles faced by the entrepreneurship ecosystem in India, the future of India is likely to be shaped by its entrepreneurs. Comment.
As per the Global Entrepreneurship Monitor (GEM) 2021-2022 report, India is among the top five easiest places to start a new business. The report further highlights that India's total entrepreneurial activity rate (percentage of adults aged 18-64 who are starting or running a new business) increasedRead more
As per the Global Entrepreneurship Monitor (GEM) 2021-2022 report, India is among the top five easiest places to start a new business. The report further highlights that India’s total entrepreneurial activity rate (percentage of adults aged 18-64 who are starting or running a new business) increased to 14.4% in 2021 from 5.3% in 2020. Moreover, India has become the 3rd largest start-up ecosystem in the world after the US and China.
However, the entrepreneurship ecosystem in India faces multiple challenges, which include:
Despite the challenges, entrepreneurship is important for India since the entrepreneurs are the engines that spearhead the economic growth of India and shape its future in the following ways:
In this regard, various steps have been taken by the government including hand-held support through schemes such as Mudra loans, NABARD-SHG-Bank linkage etc., concessions to entrepreneurs through schemes like Start-Up India, Stand-Up India etc., promotion of innovation through schemes like Atal Innovation Mission, IPR policy guidelines, National Initiative for Developing and Harnessing Innovations (NIDHI), etc. It is critical to foster entrepreneurship in India and the government should ensure that the physical infrastructure in the country and regulatory measures are conducive for that.
See lessExplaining the concept of multi-dimensional poverty, state the measures which have been taken to address this problem in India.
Multidimensional poverty, going beyond the income criteria, measures poverty deprivation in three key areas - living standards, education and healthcare, that a poor person simultaneously faces. Recently, the NITI Aayog has released the 'National Multidimensional Poverty Index: Baseline Report and DRead more
Multidimensional poverty, going beyond the income criteria, measures poverty deprivation in three key areas – living standards, education and healthcare, that a poor person simultaneously faces. Recently, the NITI Aayog has released the ‘National Multidimensional Poverty Index: Baseline Report and Dashboard’.
The Multi-dimensionality Poverty Index (MPI) serves as a better model than income criteria to identify poor persons due to the following reasons:
In this context, the following steps have been taken to help reduce multidimensional poverty in India:
Apart from the above mentioned initiatives, the government should focus on accelerating economic growth, agricultural growth, human resource development and infrastructure development, implementation of Universal Basic Income, capacity development of government officials etc., which will help India achieve its Sustainable Development Goal 1 i.e. end poverty in all its forms everywhere.
See lessDo you agree that high economic growth in the post-reform period has not resulted in growth trickling down to the marginalised sections, rendering inclusive growth a major concern? Justify your answer.
Since the 1991 reforms, India's economy has experienced remarkable growth, with the GDP expanding from $270 billion in 1991 to $3.2 trillion in 2021. Also, India's per capita income at current prices rose at a compound annual growth rate (CAGR) of 11.2% between 1991-92 and 2019-20. Though this robusRead more
Since the 1991 reforms, India’s economy has experienced remarkable growth, with the GDP expanding from $270 billion in 1991 to $3.2 trillion in 2021. Also, India’s per capita income at current prices rose at a compound annual growth rate (CAGR) of 11.2% between 1991-92 and 2019-20.
Though this robust economic growth has propelled India to become the fifth-largest economy in the world, but it has not resulted in growth trickling down to the marginalised sections, rendering inclusive growth a major concern as follows:
To attain inclusive growth, it is necessary to focus on investments in primary as well as vocational education, health infrastructure, generation of employment opportunities, and inclusive financial services. Moreover, in agricultural states, where a major proportion of population is engaged, the establishment of area-specific agricultural industries, processing units, and infrastructural facilities such as storage and transportation can be the way forward.
See lessEvaluate the role of Pradhan Mantri Jan-Dhan Yojana in ensuring financial inclusion in India.
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The plan envisages universal access to banking facilities with at least one basic banking accRead more
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility.
Role of Pradhan Mantri Jan-Dhan Yojana in ensuring financial inclusion in India:
Going forward, there is a need to move from financial inclusion to financial empowerment by providing credit. The PMJDY should become PM Jan Dhan Vridhi Yojana with universal access to bank credit to the most underprivileged sections of the society. Also, infrastructure needs to be cost effective and there is a need to build up a database to capture the income transaction history of the Jan Dhan account holders on the basis of which credit delivery models can be worked out.
See lessWhat are Development Financial Institutions? Discuss the challenges faced by these institutions in India.
Development Financial institutions (DFI) are institutions that provide long-term development finance to various sectors like industry, agriculture, housing and infrastructure. The Industrial Finance Corporation of India (IFCI) was the first DFI set up after independence in 1948, followed by IDBI, NARead more
Development Financial institutions (DFI) are institutions that provide long-term development finance to various sectors like industry, agriculture, housing and infrastructure. The Industrial Finance Corporation of India (IFCI) was the first DFI set up after independence in 1948, followed by IDBI, NABARD, EXIM Bank, SIDBI, etc. DFIs can be either wholly or partially owned by the government and few have majority private ownership, determined by the nature of the activities being financed, and their associated risk-returns profile.
Challenges faced by Development Financial institutions in India:
Considering the challenges being faced by the DFIs, steps like establishment of standardised and streamlined regulatory frameworks, advocating performance-based remuneration to retain staff and vocational training to keep the technical competence and maintain efficiency of DFI, need to be undertaken. Also, consultation and coordination among DFIs should be encouraged to make sure that overlaps are avoided and eventual market gaps are covered. Further, there is a need of cultivating a strong culture of innovation to increase value-addition and catalyse private investment. Allowing DFI to raise long-term financing from external markets and from multilateral financial institutions would also go a long way towards the success of DFIs.
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