Inclusive growth in India: Challenges ahead and prospects
Dr. Narendra Kumar Illuru, K Sudha
The concept of inclusive growth finds place more frequently in the debates and discussions at different forums. The Government aimed at promoting inclusive growth as it recognized that high national income growth alone did not address the challenge of employment promotion, poverty reduction and balanced regional development or improving human development. The Indian economy, which has over the last six decades passed through various phases of growth, is now all set to enter an altogether different orbit, one marked by a high rate of expansion, combined with inclusive growth. The orientation is most visibly manifested in the theme of the 11th Five Year Plan. The theme is towards faster and more inclusive growth, which clearly reflects the need to find a sustainable balance between growth and inclusion. The 11th Plan defines inclusive growth to be a growth process which yields broad-based benefits and ensures equality of opportunity for all. The Governments have initiated several projects are like Jawahar Rozgar Yojna, Integrated Rural Development Program, Rural Housing Scheme, Swarnjayanti Gram Swarozgar Yojana and Mahatama Gandhi National Rural Employment Guarantee Act to promote inclusive growth. The Government and private sector can play complementary roles in driving inclusive growth. The paper presents to need to build Inclusive growth in India, the opportunities available for building an inclusive India by indicators levers are in Governance, education, energy and resources, telecom and technology, infrastructure, healthcare, financial inclusion and business model innovation. The inclusive growth and development the efforts and progress in the direction of inclusive growth and development appears to be quite satisfactory, however, challenges, problems and constraints in achieving the goals of inclusive planning have emerged that require multiple approaches and strategies to address them effectively and efficiently and examine the emerging challenges in achieving inclusive development and growth in India.