Inclusive Growth is economic growth that creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non-monetary terms, fairly across society.Indian Plans after the independence were based on the downward infiltration theory, which failed to bring equitable growth to all the sections of the Indian society.
Approach paper of 11th five year plan talked about “Inclusive and more faster growth” through bridging divides by including those in growth process who were excluded. Divide between above and Below Poverty Line, between those with productive jobs and those who are unemployed or grossly unemployed is at alarming stage.
Liberalization and Privatization after 1990’s have brought the nation out of the hindu growth rate syndrome but the share of growth has not been equitably distributed amongst different sections of Indian Society.
Various dimensions of Inclusive growth are:-
Important issues that are needed to be addressed to achieve the inclusive growth are:-
- Rural Infrastructure
- Financial Inclusion
- Balanced regional development
- Gender equality
- Human Resource Development (Health, Education, Skill Development)
- Basic Human Resources like sanitation, drinking water, housing etc.
Government has launched several programs and policies for Inclusive growth such as:-
- Jan Dhan Yojna
- Atal Pension Yojna
- Skill India Mission
- Deen Dayal Upadhyaya Gram Jyoti Yojana
- Pradhan Mantri Suraksha Bima Yojana
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Sukanya Samridhi Yojana
- Pradhan Mantri Garib Kalyan Yojana
- Jan Aushadhi Yojana (JAY)
- Nai Manzil Scheme for minority students
- The Pradhan Mantri Awas Yojana (PMAY) or Housing for all by 2022