Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
4. In trying to achieve the goal of a $5-trillion economy, the government should ensure that the growth is inclusive. Discuss the challenges (250 words)
Reference: Tribune India
Why the question:
The article explains how in trying to achieve the goal of a $5-trillion economy, the government should ensure that the growth is inclusive.
Key Demand of the question:
Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.
Structure of the answer:
Start with the context of the question.
The answer body must have the following aspects covered:
Challenges in becoming a $5-trillion economy – Target in itself is big: Not easy to reach $5 trillion by 2024-25 with present Real Gross Domestic Product (GDP) is only close to $2 trillion, explain that Growth of the Gross National Product (GNP) is not development, Threat of rising inequality, Possibility of egregious consequences in trying to achieve the growth etc.
Suggest what needs to be done.
Conclude that government should strategize growth and development where all essential objectives of development are met rather than trying to do distribution or waiting for trickle-down.