Talk about how globalization has affected trade, jobs, especially for women, income equality, wealth distribution, etc. (200 Words) [UPPSC 2020]
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:
- Poverty Alleviation: India has implemented various schemes like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to provide livelihood opportunities to rural poor and enhance their economic stability.
- Education and Health: Programs such as Right to Education (RTE) and Ayushman Bharat aim to improve access to quality education and healthcare for all, especially for underprivileged sections.
- Financial Inclusion: Initiatives like Pradhan Mantri Jan Dhan Yojana (PMJDY) and Digital India promote financial inclusion, ensuring that marginalized populations have access to banking and financial services.
- Employment Generation: Schemes such as Startup India and Stand Up India focus on creating job opportunities and promoting entrepreneurship among disadvantaged groups.
Remedial Actions:
- Enhanced Access to Quality Education: Strengthening educational infrastructure and ensuring that marginalized communities have access to quality education.
- Improving Healthcare Services: Expanding healthcare facilities and making healthcare more affordable and accessible in rural and underserved areas.
- Infrastructure Development: Investing in rural infrastructure to improve connectivity, which can stimulate economic activities and job creation in remote areas.
- Skill Development Programs: Implementing targeted skill development initiatives to enhance employability among youth and women from economically disadvantaged backgrounds.
- Social Safety Nets: Expanding and strengthening social safety nets like public distribution systems and social security schemes to protect the most vulnerable.
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.
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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.
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