Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Difficulty level: Tough
Reference: Live Mint
Why the question: India has more than 100 unicorns—startups that are valued at $1 billion or more. As many as 42 unicorns appeared last year, as against 37 in the previous 10 years.
Key Demand of the question: To write about the factors aiding unicorn boom and steps needed to make them successful.
Directive word:
Critically examine – When asked to ‘Examine’, we have to look into the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications. When ‘critically’ is suffixed or prefixed to a directive, one needs to look at the good and bad of the topic and give a fair judgment.
Structure of the answer:
Introduction:
Begin by defining a Unicorn.
Body:
First, in brief, give reasons for the unicorn boom in India – thriving digital payments ecosystem, large smartphone user base and digital-first business models, and digitization of commerce etc.
Next, write about the impediments to growth and profitability of these Unicorns. Mention the concerns associated with the same.
Next, write about the steps that are needed to ensure their growth – for proper regulatory mechanism, performance pressure, business revenue improvement etc.
Conclusion:
Conclude with a way forward.
