Model Answer

Salient Features of Inclusive Growth

Inclusive growth is characterized by several key features that ensure economic benefits are shared across all segments of society:

1. Skill Development: Enhancing the employability of the working-age population through education, vocational training, and health initiatives is crucial for harnessing the demographic dividend.
2. Financial Inclusion: Ensuring access to financial services encourages savings and investments, which are vital for economic growth.
3. Technological Advancement: The effective use of technology can either bridge or widen the inequality gap. Initiatives like the Digital India Mission aim to leverage technology to benefit marginalized communities.
4. Social Development: Upgrading social institutions such as healthcare and education is essential for empowering individuals and fostering a capable workforce.

Has India Been Experiencing Inclusive Growth?

Despite these features, India faces significant challenges in achieving inclusive growth:

• Poverty Levels: Approximately 373 million Indians live in poverty, with 8.8% experiencing extreme multid## Salient Features of Inclusive Growth

Inclusive growth is characterized by several key features that ensure economic benefits are shared across all segments of society:

1. Skill Development: Enhancing the employability of the working-age population through education, vocational training, and health initiatives is crucial for harnessing the demographic dividend.
2. Financial Inclusion: Ensuring access to financial services encourages savings and investments, which are vital for economic growth.
3. Technological Advancement: The effective use of technology can either bridge or widen the inequality gap. Initiatives like the Digital India Mission aim to leverage technology to benefit marginalized communities.
4. Social Development: Upgrading social institutions such as healthcare and education is essential for empowering individuals and fostering a capable workforce.

Has India Been Experiencing Inclusive Growth?

Despite these features, India faces significant challenges in achieving inclusive growth:

• Approximately 373 million Indians live in poverty, with 8.8% experiencing extreme multidimensional poverty and 19.3% vulnerable to it.
• The unemployment rate hovers around 6%, compounded by a high level of illiteracy and a large informal labor force lacking social protection.
• Agriculture employs about 44% of the workforce but contributes only 16.5% to GDP, leading to widespread poverty.
• Social disparities, including the caste system and wealth gaps, exacerbate regional inequalities, privileging certain groups over others.

Measures for Inclusive Growth

To address these challenges, India has initiated several measures:

• Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): Aims to reduce rural unemployment by providing guaranteed wage employment.
• Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY): Focuses on skill development for rural youth.
• Sarva Siksha Abhiyan (SSA): Aims for universal basic literacy and education.
• National Health Mission (NHM): Seeks to improve public health, ensuring that citizens remain productive assets rather than liabilities.

Additionally, fostering partnerships with international organizations, civil society, and private firms can enhance efforts towards inclusive and equitable growth.

Conclusion

Inclusive growth is essential for empowering marginalized communities and improving living standards in India. Continued focus on poverty eradication and sustainable development by all levels of government is crucial for enhancing the lives of the Indian populace.