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"Micro, Small and Medium Enterprises (MSMEs) are the drivers of economic growth and employment proliferation in India." Examine this statement. (200 Words) [UPPSC 2020]
Micro, Small and Medium Enterprises (MSMEs) as Drivers of Economic Growth and Employment Proliferation in India Introduction: Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in India's economy by contributing significantly to economic growth and employment generation. With over 63 mRead more
Micro, Small and Medium Enterprises (MSMEs) as Drivers of Economic Growth and Employment Proliferation in India
Introduction: Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in India’s economy by contributing significantly to economic growth and employment generation. With over 63 million MSMEs in the country, they account for approximately 30% of India’s GDP and 45% of the manufacturing output.
Economic Growth:
Employment Generation:
Recent Example: During the COVID-19 pandemic, MSMEs faced severe disruptions. The Indian government introduced the Emergency Credit Line Guarantee Scheme (ECLGS), which extended collateral-free loans worth over ₹3 lakh crore, helping MSMEs to survive and continue contributing to economic growth and employment.
Challenges: Despite their significance, MSMEs face challenges such as limited access to finance, technological obsolescence, and infrastructure bottlenecks. Addressing these issues is crucial for maximizing their potential.
Conclusion: MSMEs are undoubtedly the backbone of India’s economy, driving economic growth and employment proliferation. With the right support and reforms, they can play an even more significant role in making India a global economic powerhouse.
See lessDiscuss as to what extent the policy of economic growth with equality and distributive justicw has been successful in the fulfilment of the objectives of inclusive growth in India. (200 Words) [UPPSC 2019]
Economic Growth with Equality and Distributive Justice in India Objectives of Inclusive Growth: Economic Growth with Equality: The aim is to achieve high economic growth while ensuring that the benefits are equitably distributed among all segments of society. Distributive Justice: This involves fairRead more
Economic Growth with Equality and Distributive Justice in India
Objectives of Inclusive Growth:
Successes of the Policy:
Challenges and Limitations:
Recent Examples:
Conclusion: While India has made strides in economic growth and some aspects of inclusive development, challenges remain in achieving equitable growth and distributive justice. Addressing these issues requires continued efforts to enhance policy implementation and ensure that growth benefits all sections of society more equitably.
See lessWhat do you mean by 'Inclusive Growth'? How inclusive growth is helpful in reducing poverty and inequalities in India? Explain. (125 Words) [UPPSC 2019]
Inclusive Growth: Concept and Impact on Poverty and Inequality **1. Definition of Inclusive Growth: Equitable Economic Growth: Inclusive growth refers to economic development that benefits all sections of society, ensuring that the fruits of progress are shared broadly. It focuses on reducing disparRead more
Inclusive Growth: Concept and Impact on Poverty and Inequality
**1. Definition of Inclusive Growth:
**2. Impact on Poverty Reduction:
**3. Reduction in Inequalities:
**4. Recent Examples:
Conclusion: Inclusive growth ensures that economic benefits reach marginalized groups, reduces poverty, and addresses social inequalities, thereby contributing to a more equitable society.
See lessDiscuss the impact of globalisation on trade, employment, particularly women employment, equality of income and wealth distribution etc. (200 Words) [UPPSC 2020]
Impact of Globalisation on Trade, Employment, and Income Distribution 1. Trade Globalisation has significantly transformed international trade by increasing market access and competition. Free Trade Agreements (FTAs) and Trade Liberalisation have expanded global markets for goods and services. For iRead more
Impact of Globalisation on Trade, Employment, and Income Distribution
1. Trade
Globalisation has significantly transformed international trade by increasing market access and competition. Free Trade Agreements (FTAs) and Trade Liberalisation have expanded global markets for goods and services. For instance, the Regional Comprehensive Economic Partnership (RCEP), which includes countries like China and Japan, has enhanced trade flows among member states. However, this increased competition can also negatively affect domestic industries unable to compete effectively.
2. Employment
Globalisation has created diverse employment opportunities by fostering new industries and expanding existing ones. For example, the IT and service sectors in India have seen substantial growth due to global outsourcing. However, it has also led to job displacement in traditional sectors, such as agriculture and manufacturing, due to increased competition and technological advancements.
3. Women Employment
Globalisation has improved women’s employment opportunities by encouraging industries that employ a higher proportion of women, such as the textile and garment industries. However, it has also highlighted issues like wage disparity and job insecurity, where women often face lower wages compared to their male counterparts.
4. Equality of Income and Wealth Distribution
Globalisation has contributed to economic growth but has also widened the income and wealth gap. In developing countries, while economic progress has been made, the benefits are often unequally distributed, leading to increased income inequality. For example, in India, the wealth of the top 1% has grown significantly compared to the average income of the lower-income groups.
In summary, while globalisation has spurred economic growth and provided new opportunities, it has also exacerbated income inequality and presented challenges in employment, particularly for women.
See lessWhat are the major challenges in reducing poverty and inequality in India? (200 Words) [UPPSC 2020]
According to the Oxfam report, poverty and inequality has been discussed in an interconnected world. The reports highlights the importance of education in bridging gap and potential of disruptive technology to reduce inequality. Despite the high economic growth, there has been high rate of poverty aRead more
According to the Oxfam report, poverty and inequality has been discussed in an interconnected world. The reports highlights the importance of education in bridging gap and potential of disruptive technology to reduce inequality.
Despite the high economic growth, there has been high rate of poverty and inequality due to various reasons, such as:
1.limited access to education and health care due to lack of human capital development and increased vulnerability to health crisis reflected through lack of institutional delivery for children and lack of vaccination.
2. Economic vulnerability due to external shock and market fluctuations which exacerbate poverty and inequality and also due to dominance of unorganised sector(83%) and informal sector(89%) which led to poor social securities like lack of accidental compensation, lack of pension fund, poor job security, etc.
3. Poor access to training, skilling and education which deprives many of basic living opportunities.
4. Corruption and governance issues hinder the Effective implementation of poverty alleviation programs and favour the wealthy and powerful.
5. Social exclusion and discrimination towards ethnic minorities, women and people with disabilities.
6. Rising capital intensity ie more use of capital than labour, with a very low capital output ratio.
Way forward :
1. Better implementation of programs so that benefits are visible.
2. Better funding and project coordination.
3. Social auditing and project tracking.
4. Both inclusion error and exclusion error should be minimized.
See lessHow does the strategy of inclusive growth intend to meet the objectives of inclusiveness and sustainability together? Explain. (125 Words) [UPPSC 2021]
The strategy of inclusive growth aims to achieve both inclusiveness and sustainability by integrating economic development with equitable distribution and environmental stewardship. Inclusiveness ensures that economic benefits reach all segments of society, particularly marginalized and disadvantageRead more
The strategy of inclusive growth aims to achieve both inclusiveness and sustainability by integrating economic development with equitable distribution and environmental stewardship. Inclusiveness ensures that economic benefits reach all segments of society, particularly marginalized and disadvantaged groups, by promoting equal opportunities in education, employment, and access to resources. Sustainability focuses on maintaining long-term economic growth while safeguarding environmental health and natural resources.
By combining these objectives, inclusive growth fosters broad-based economic progress that reduces poverty and inequality while ensuring that development does not come at the expense of environmental degradation. Policies such as green technologies, social protection programs, and community-driven development initiatives help balance economic, social, and environmental goals, thus achieving sustainable and inclusive progress.
See less"Inclusive growth has now become the central point of developmental strategy." Discuss the statement in the context of India. Also suggest remedial actions to achieve this growth. (200 Words) [UPPSC 2022]
Inclusive Growth as a Central Point of Developmental Strategy in India Discussion: Inclusive growth emphasizes equitable distribution of the benefits of economic growth across all sections of society. In India, the focus has shifted from mere economic growth to ensuring that the fruits of developmenRead more
Inclusive Growth as a Central Point of Developmental Strategy in India
Discussion:
Inclusive growth emphasizes equitable distribution of the benefits of economic growth across all sections of society. In India, the focus has shifted from mere economic growth to ensuring that the fruits of development reach the marginalized and economically disadvantaged communities.
Key Aspects:
Remedial Actions:
In conclusion, inclusive growth is crucial for achieving sustainable and equitable development in India. It requires a comprehensive approach that addresses economic disparities and ensures that all sections of society benefit from development initiatives.
See lessExplain the concept of inclusive growth. What are the issues and challenges with inclusive growth in India? Explain. (200 Words) [UPPSC 2023]
Concept of Inclusive Growth Inclusive Growth refers to an economic growth strategy that ensures equitable distribution of the benefits of development among all sections of society, especially marginalized and disadvantaged groups. It aims to achieve sustainable development by integrating social, ecoRead more
Concept of Inclusive Growth
Inclusive Growth refers to an economic growth strategy that ensures equitable distribution of the benefits of development among all sections of society, especially marginalized and disadvantaged groups. It aims to achieve sustainable development by integrating social, economic, and environmental dimensions. This involves not only boosting the overall economic growth but also ensuring that the growth is broad-based, providing opportunities and improving the quality of life for all, particularly for the poor and underserved.
Issues and Challenges with Inclusive Growth in India
Recent Example: The Pradhan Mantri Jan Dhan Yojana (PMJDY) and Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) are initiatives aimed at improving financial inclusion and providing employment opportunities, respectively. However, challenges remain in ensuring that these benefits reach the most marginalized effectively and equitably.
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