Roadmap for Answer Writing 1. Introduction Define the context: Industrial growth in relation to GDP growth in India post-reforms. State the significance of the industrial sector in the economy. 2. Reasons for Lagging Industrial Growth A. Inadequate Infrastructure Discuss the challenges posed by insufficient physical infrastructure. Fact: ...
Leaving No One Behind" and Sustainable Development Goals (SDGs) Concept: "Leaving no one behind" is a core principle of the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015. It emphasizes inclusive development, ensuring that progress benefits all segments of society, particRead more
Leaving No One Behind” and Sustainable Development Goals (SDGs)
Concept: “Leaving no one behind” is a core principle of the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015. It emphasizes inclusive development, ensuring that progress benefits all segments of society, particularly the most vulnerable and marginalized populations.
Application: The principle mandates equal opportunities and access to resources and benefits. For instance, the SDG 10 focuses on reducing inequality within and among countries, while SDG 1 aims to end poverty in all forms.
Recent Examples: During the COVID-19 pandemic, efforts were made to ensure vaccines and aid reached underprivileged communities and low-income countries. Programs like the COVAX initiative illustrate the commitment to this principle, striving to provide equitable access to vaccines and medical supplies.
In summary, “leaving no one behind” is about ensuring that sustainable development benefits everyone and no group is excluded from the progress.
See less
Model Answer Introduction The industrial growth rate in India has lagged behind the overall growth of Gross Domestic Product (GDP) in the post-reform period. While the industrial sector contributes significantly to the economy, accounting for 27.6% of GDP, its growth has remained stagnant at aroundRead more
Model Answer
Introduction
The industrial growth rate in India has lagged behind the overall growth of Gross Domestic Product (GDP) in the post-reform period. While the industrial sector contributes significantly to the economy, accounting for 27.6% of GDP, its growth has remained stagnant at around 2-3%, compared to GDP growth rates exceeding 6-7%.
Reasons for Lagging Industrial Growth
The industrial sector suffers from a significant deficit in physical infrastructure, necessitating an investment of $1 trillion to improve capacities and efficiency.
Poor quality of industrial infrastructure has led to high logistics costs, making Indian goods less competitive globally. India spends 2-3 times more on logistics than its competitors.
Complex and rigid labour laws create challenges for employers, often leading to legal complications that hinder industrial growth.
A multi-layered tax system with high compliance costs adversely affects the competitiveness of manufacturing. India ranks poorly in regulatory aspects according to the Ease of Doing Business (EoDB) 2020 report.
The reliance on inefficient and outdated technologies results in low productivity and higher costs, further disadvantaging Indian products in international markets.
Recent Changes in Industrial Policy
The Department of Industrial Policy and Promotion (DIPP) has introduced several initiatives aimed at revitalizing industrial growth:
While these initiatives are long-term measures, they are expected to positively impact industrial growth in the future.
Conclusion
The industrial growth rate in India has lagged due to various structural challenges. However, recent policy changes by the DIPP aim to address these issues and stimulate growth in the industrial sector.
See less