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Poverty in India

In: Social Issues

Submitted By raghashourie
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Poverty, Rural Development and Inclusive Growth
Group 07

Poverty, Rural Development & Inclusive Growth
In this report we would be focusing on Sustainable Inclusive Growth
Background
Post independence a combination of protectionist, import substitution and Fabian social democratic – inspired policies governed India. Economy was characterized by extensive regulation and public ownership of large monopolies. Owing to economic liberalization in 1991, the country moved to a market based economy and slowly established itself as the world’s fastest growing economies when it reached its highest recorded GDP growth rate of 9%. However there has been significant debate, around liberalization as an inclusive economic growth strategy. Since 1992, income inequality has deepened in India with the wealthiest generating consumption growth and the consumption among the poorest remaining stable. With India’s Gross domestic product (GDP) growth rate touching a decade long low in 2012-13 , growing merely at 5%, more criticism of India's economic reforms surfaced, citing failure to address employment growth, nutritional values in terms of food intake in calories, and also exports growth - and thereby leading to a worsening level of current account deficit compared to the prior to the reform period. Growth that is not inclusive affects the society, the economy and the polity by resulting in real and perceived inequities Thus making growth more inclusive and addressing widespread poverty is a challenge for India which requires sustained investment in people, starting from health and education but also transport and energy infrastructure, review of the poverty reduction programmes, their targeting and efficiency.
Sustaining High and inclusive growth
Growth Potential in India India’s potential for sustained growth is high with the demographic dividend playing in its favor....

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