Home » Economy » Inclusive growth and issues arising from it » Definition of inclusive growth
- As per OECD (Organisation for Economic Co-operation and Development), inclusive growth is economic growth that is distributed fairly across society and creates opportunities for all.
- “Inclusive Growth refers both to the pace and pattern of growth, which are interlinked and must be addressed together.”- World Bank
- UNDP has described inclusive growth as “the process and the outcome where all groups of people have participated in growth and have benefited equitably from it”.
- Inclusive growth entails comprehensive growth, shared growth, and pro-poor growth.
- It lessens the fast growth rate of poverty in a country and upsurges the participation of people into the development of the country.
- Inclusive growth infers an impartial allocation of resources with benefits incurred to every section of the society. But the allocation of resources must be focused on the intended short and long term benefits of the society such as availability of consumer goods, people access, employment, standard of living etc.
