Topic: Indian Economy
Q5. Distinguish between ‘care economy’ and ‘monetized economy’. How can care economy be brought into monetized economy through women empowerment? (UPSC 2023) (Answer in 250 words)
Difficulty level: Moderate
Reference: The Hindu, Insights
Why the question:
India has moved from women’s development to women-led development: Economic Survey
There has been over 218% increase in budgetary allocation for schemes for the welfare and empowerment of women; highlights the potential of ‘care economy’ that could provide a lion’s share of jobs for women
Key Demand of the question:
To write difference between the ‘care economy’ and ‘monetized economy’ and how-to bring care economy into regular monetized economy.
Structure of the answer:
Introduction:
Begin by defining ‘care economy’
Body:
First, write the difference in tabular format
Next, list down points showing how to bring care economy to monetized economy by empowering women. Illustrate with examples.
Conclusion:
Conclude by writing a way forward.
