Inclusive Growth
Mains Marks Booster
5th August 2023
The former President of India, Pranab Mukherjee once said, “Inclusive growth should not be a mere slogan but a fundamental driving force for sustainable development.”
Definition
- The United Nations Development Program (UNDP) defines inclusive growth as “the process and result of all groups of people participating in the organization of growth and benefiting equally from it.”
- SDG 10 focuses on ensuring equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard.
Inclusive Growth through Five-year Plans:
- The Eleventh five year Plan (2007-12) in India for the first time gave importance to Inclusive growth.
- The Twelfth Five-year plan (2012-2017) was launched with the slogan “Faster, More Sustainable, and More Inclusive Growth.”
- The plan observed Inclusive growth should result in lower incidence of poverty, broad-based and significant improvement in health outcomes, universal access for children to school, increased access to higher education and improved standards of education, including skill development.
- It should also be reflected in better opportunities for both wage employment and livelihood, and in improvement in provision of basic amenities like water, electricity, roads, sanitation and housing.
Elements of Inclusive Growth: Skill development, Empowerment of vulnerable sections, Economic growth, financial inclusion, technology advancement.
Need for Inclusive growth in India:
Government Initiative to achieve Inclusive Growth in India
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Ujjwala Yojana (PMUY).
- Pradhan Mantri Awas Yojana (PMAY): This housing scheme aims to provide affordable housing to urban and rural poor, with a focus on economically weaker sections and low-income groups.
- Skill India Mission: skill training and entrepreneurship development programs to bridge the skill gap and promote job creation.
- Digital India: This program aims to transform India into a digitally empowered society and knowledge economy by promoting digital infrastructure, digital literacy, and digital services accessible to all citizens.
- Beti Bachao, Beti Padhao: This campaign seeks to address gender discrimination and promote the education and welfare of the girl child, with a focus on improving the sex ratio and enhancing girl's access to education.
- Swachh Bharat Abhiyan: This nationwide cleanliness campaign focuses on improving sanitation, constructing toilets, and promoting hygiene practices to enhance health outcomes and quality of life.
- Start-up India: This initiative aims to promote entrepreneurship and innovation by providing support, funding, and incentives to start-ups, facilitating job creation and economic growth.
- Pradhan Mantri Kisan Samman Nidhi (PM-KISAN): This income support scheme provides direct cash transfers to farmers to ensure a minimum income and address agricultural distress.
- Atmanirbhar Bharat Abhiyaan
Challenges in achieving inclusive growth in India
- Service Sector Dominance, Social Divisions, Unequal Access to Education and Skills, Rural-Urban Disparities, Informal Sector Challenges, Governance and Corruption
Way Forward
- Enhancing education and skills, Promoting financial inclusion, Implementing targeted social welfare programs, Addressing gender inequality, Investing in rural development and agriculture, Strengthening governance and accountability and Encouraging public-private partnerships.
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Atmanirbhar Bharat Abhiyaan Context Atmanirbhar Bharat Abhiyaan or self-reliant India campaign is the vision of new India envisaged by the Prime Minister to move towards a self-reliant India.Objective of Atmanirbhar Bharat Abhiyaan  Way Forward
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Global Economic Recession Context- Recently IMF Chief Kristalina Georgieva in an interview mentioned that around one-third of the global economy will face a recession in 2023, leading to a slowdown in economic growth compared to previous years. Major economies worldwide are experiencing a decline in growth, contributing to this trend. Is the world heading towards a global recession? Various viewpoints:
Reasons behind current Global Economic Recession
Way Forward
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Concept of Green Growth
The Ministry of Finance has outlined key priorities for promoting green growth in its budget submission for the fiscal year 2022-2023.
Green Growth
- It refers to a framework for economic development that promotes sustainable and environmentally friendly practices.
- It recognizes the interdependence between economic growth, environmental protection, and social well-being to achieve economic prosperity while ensuring the long-term sustainability of natural resources, reducing environmental degradation, and mitigating climate change.
Principles and challenges of Green Growth:
Government Initiatives for Green Growth
- Green Hydrogen Mission: Aims to transition the economy to low carbon intensity.It will help to reduce dependence on fossil fuel imports.
- Green Credit Programme: The 'green credit programme' under the Environment (Protection) Act will incentivize environmentally sustainable and responsive actions by companies, individuals and local bodies.
- PM-PRANAM: A new “PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth”. It will incentivize States and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers.
- Gobardhan scheme: GOBARdhan supports the villages in safely managing their cattle waste, agriculture waste and organic waste in Rural areas. It also helps villages convert their waste to wealth, improve environmental sanitation and curb vector borne diseases
Conclusion
Green growth can help governments, businesses, and communities thrive while reducing environmental impact. It involves balancing economic growth, environmental sustainability, and social well-being. We do so to build a resilient, sustainable, and beneficial future.
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