DMPQ- Inclusive growth is the major model to be focus by developing economies to achieve overall development. What are the characteristics of inclusive growth.

by

Economic growth is inclusive when growth percolates to all the sectors of the economy and the development is not concentrated to certain pockets but in all region.  The growth should reduce the inequality between the rich and the poor.

SALIENT FEATURES OF INCLUSIVE GROWTH

  1. Participation– People are able to participate fully in economic life and have greater say over

their future. People are able to access and participate in markets as workers, consumers and

business owners.

  1. Equity-More opportunities are available to enable upward mobility for more people. All

segments of society, especially poor or socially disadvantaged groups, are able to take advantage

of these opportunities.

  1. Growth– An economy is increasingly producing enough goods and services to enable broad

gains in well-being and greater opportunity. Good job and work opportunities are growing and

incomes are increasing, especially for the poor.

  1. Stability- Individuals, communities, businesses and governments have a sufficient degree of

confidence in their future and an increased ability to predict the outcome of their economic

decisions.

  1. Sustainability– Economic and social wealth is sustained over time, thus maintaining intergenerational

 

Recently Oxfam report shows the inequality is increasing day by day. The richest 1% of the population holds more than 80% of the wealth. Such income disparity is certainly against the notion of economic growth.

 

JPSC Notes brings Prelims and Mains programs for JPSC Prelims and JPSC Mains Exam preparation. Various Programs initiated by JPSC Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––