GS Mains Model Question & Answer: What do you mean by ‘Inclusive Growth’? How is the government working for this ?
Q. What do you mean by ‘Inclusive Growth’? How is the government working for this ? (12.5 Marks)
(General Studies Mains Paper III- Economy : Inclusive growth and issues arising from it)
Model Answer :
Inclusive growth is a concept that advances equitable opportunities for economic participants during economic growth with benefits incurred by every section of society.
Inclusive growth basically means making sure everyone is included in growth, regardless of their economic class, gender, sex, disability and religion. Inclusive growth approach takes on long term perspective and the focus is on productive employment rather than merely direct income redistribution as a means of increasing income for excluded groups.
According to World Bank, the growth said to be inclusive when the growth to be sustainable in long run and it should be broad based across the sector and inclusive of large part of countries labour force. Inclusiveness should understand in the sense and focusing on equality of opportunity in terms access to markets, resources and unbiased regulatory environment for business and individual.