- By intervention government should attempt to build capacity of people to survive and grow themselves in market. But at same time government has to set minimum standards and provide safety nets to disadvantaged and vulnerable people of the society.
- To utilize the demographic dividend. India is currently forcing on its technologists, engineers, doctors and scientists. Government is making efforts to divert school dropouts to technical or vocational training program.
- The scheme has been formulated through private public partnership under which short term training modules will be conducted (Gupta, 2008) such as Pradhan Mantri Kaushal Vikas Yojana (PMKVY), SANKALP and UDAAN.
- The Ministry of Mines has launched a portal “SATYABHAMA (Science and Technology Yojana for Atmanirbhar Bharat in Mining Advancement)”with an aim to promote research and development in the mining and minerals sector.
- Poverty alleviation and community actions; Community mobilization is a process through which action is stimulated by a community itself, or by others, that is planned, carried out, and evaluated by a community’s individuals, groups, and organizations on a participatory and sustained basis to improve the health, hygiene and education levels so as to enhance the overall standard of living in the community and thereby the economy.
- Focus of Resource Efficiency: Resource efficiencyor resource productivity is the ratio between a given benefit or result and the natural resource use required for it. Resource efficiency is a strategy to achieve the maximum possible benefit with least possible resource input.
- Viability Gap Funding (VGF)that can help businesses overcome the barriers and become competitive over time by building scale and upgradation of technology.
- Policy reformsacross life cycle stages focussing on their design, emphasis, integration or implementation.
- Tax reformscan play an important role in steering the economy towards resource efficient practices and circular economy. Value-added taxes should be levied on value-added activities like mining, construction, and manufacturing.
- Capacity developmentof key actors responsible for undertaking or overseeing RE/SRM strategies, including ULBs, MSMEs, as well as the informal sector.
- A dedicated institutional set up for development, assessment of Resource Efficiency measures should be established.
- Baseline data collection and development of indicators.
- Eco-labelling and standard certification of products; Strengthen awareness regarding green products; Improve availability of green products in the markets; Lowering costs of green products and Green public procurement
- New business models for resource efficiency will offer attractive opportunities for businesses and financial institutions, thereby enabling greater employment growth and diversity.
- Industrial clusters development. More savings and more productive investment.
- Four factors of production- land, labour, capital and organization – should come together. There should be an atmosphere for growth and investment.
- Resource efficiency yields significant cost benefits by reducing virgin raw materials extraction, import dependency and energy and process materials.
- Creating multi-stakeholder collaboration platforms will enable exchange of ideas and their deployment, eventually generating new business models, resource efficient products, and demonstrating success.
- While technological development and innovation play an important role in adopting circularity during the production phase, behavioural change promoting lifecycle thinking at the consumption phase is key to the adoption of a circular economy. An integrated resource efficiency policy can bring in the desired transition.
- Financial literacy programmes should be undertaken and backed by products that address the real needs of consumers, with the support to use the product. People have to be imparted an ability to understand and execute matters of personal finance such as basic numeracy and literacy, financial awareness, knowledge and skills, attitude and behaviours needed to make sound financial decisions, budgeting, investing and risk diversification.
The National Development Council or the Rashtriya Vikas Parishad was set up on 6th August 1952 to strengthen and mobilise the effort and resources of the nation in support of the plan, to promote common economic policy in all vital spheres, and to ensure the balanced and rapid development of all parts of the country.
It is a constitutional body with representation from both the Centre and States. The Council is headed by the Prime Minister and all Union Cabinet Ministers, State Chief Ministers, representatives of Union Territories; Members of Planning Commission are its members.
The functions of NDC are
- To prescribe guidelines for formulation of the National Plan, including assessment of resources for the Plan
- To consider the National Plan as formulated by the Planning Commission
- To consider important questions of social and economic policy affecting national development and
- To review the working of the Plan from time to time and to recommend such measures as are necessary for achieving the aims and targets set out in the National Plan.
- The prime function of the Council is to act as a bridge between the Union government, Planning Commission and the State Governments.
- It is a forum not only for discussion of plans and programmes but also social and economic matters of national importance are discussed in this forum before policy formulation. It is a very democratic forum where the States openly express their views. No resolution is passed by the Council.
Finance Commission: Article 280 of Indian Constitution
- It shall be the duty of the commission to make recommendations to the president as to:
- The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under this chapter and the allocation between the states of the respective share of such proceeds.
- The principles which should govern the grants-in-aid of the revenue of the states out of the consolidated fund of India.
- Any other matter referred to the commission by the President in the interest of sound finances.
Main responsibilities of a Finance Commission are the following.
- The distribution between the Union and the States of the net proceeds of taxes which are to be divided between them and the allocation between the States of the respective shares of such proceeds.
- Determination of principles and quantum of grants-in-aid to States which are in need of such assistance.
- Measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
State Finance Commission
- In India, decentralization reforms, aimed at empowering local people through local governments, assumed significance in early 1990s.
- Though the Panchayats and the municipalities (rural local bodies and the urban local bodies) existed even before the 73rd and 74th amendment of the Constitution in the year 1993, these amendments provided an impetus to the decentralisation process through a system of self-government for the panchayats and municipalities and devolve greater powers, functions and authority to them.
- It also envisaged the panchayats and municipalities as an institution of self-government. These amendments also underscored the organic link in the public finances of the multi-layered federal polity in India. The devolution of financial resources to these bodies was ensured through periodic constitution of the State Finance Commissions (SFCs).
For Human Resource Mobilization
- Skill Development Cell has been entrusted the responsibility to train youth by providing them skills through AICTE approved Colleges/Registered facilitators with objective for enhancing their Employment/ Self-Employment opportunities.
- Start-Up Policy for Technical Institutions:AICTE has prepared a Start-up Policy for students of Technical Institutions to create tech-based student owned start-ups and employment opportunities.
- Pradhan Mantri Kaushal Vikas Yojna by Technical Institutions (PMKVY-TI):This scheme is implementing through AICTE approved Colleges to impart Engineering skills to drop-out students and find placement in suitable private sector jobs.
- Community College Scheme:Under this scheme, Council provides financial assistance to AICTE approved Polytechnics to run courses as per the NSQF. Till date 74 Institutes, are running the Scheme.
- Employability Enhancement Training Programme (EETP):For implementation and enhancement of employment opportunities under skill initiatives, the Council has signed MoU’s with following organization under EETP:
- AICTE –LinkedIn
- AICTE- ICT Academy
- AICTE -Monster.com
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005:The Act provides 100 days assured employment every year to every rural household. One-third of the proposed jobs would be reserved for women. The central government will also establish National Employment Guarantee Funds. Similarly, state governments will establish State Employment Guarantee Funds for implementation of the scheme. Under the programme, if an applicant is not provided employment within 15 days s/he will be entitled to a daily unemployment allowance.
- National Rural Livelihood Mission: Aajeevika (2011):It evolves out the need to diversify the needs of the rural poor and provide them jobs with regular income on a monthly basis. Self Help groups are formed at the village level to help the needy.
- National Urban Livelihood Mission:The NULM focuses on organizing urban poor in Self Help Groups, creating opportunities for skill development leading to market-based employment and helping them to set up self-employment ventures by ensuring easy access to credit.
- PM Suraksha Bima Yojana (PMSBY) – Accidental death cum disability insurance, renewable 1 year, for 18-70 age group.
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) – Life insurance, renewable 1 year, for 18-50 age group.
- Atal Pension Yojana – Focus on unorganised sector.
- At the manufacturing stage, flagship programmes like “Make in India”that provide special assistance to energy efficient, water efficient and pollution control technologies through Technology Acquisition and Development Fund (TADF) can promote Resource Efficiency and mobilization and SRM approaches.
For Financial Resource Mobilization
- Regional Rural Banks (RRBs): On the basis of Narasimham Working Group 1975, RRBs were established to serve banking needs of rural population.
- Priority Sector Lending: is an important role given by the RBI to the banks for providing a portion of the bank loans to few specific sectors such as agriculture or small scale industries.
- Business correspondents: RBI permitted banks to engage business correspondents/facilitators for providing door-step delivery of financial and banking services.
- The opening of no-frills accounts: No-frills accounts means the bank accounts which does not require a minimum balance (or low sometimes) = Accessibility to vast sections of the population.
- KYC relaxation: Know Your Customer (KYC) requirements for opening bank accounts were relaxed for small accounts in August 2005. The opening of bank accounts became even easier with Aadhaar introduction.
- To expand the network of ATMs, the RBI has permitted non-bank entities to start White Label ATMs.
- Jan Dhan, Aadhaar and Mobile (JAM) –
- It is a three-part strategy based on using digital technologies
- Jan Dhan (banking), Aadhaar (Biometric Identity) and Mobile (transactions).
- Establishment of payment banks and small finance banks.
- Establishment of MUDRA bank to refinance micro-finance institutions to lend to non-formal sectors such as MSMEs through PM Mudra Yojana.
- RuPay Cards have considerably enhanced its market share.
- Financial literacy centres were launched by commercial banks at the request of the RBI.
- Financial inclusion of women through Aadhaar implementation.
- Unified Payments Interface (UPI) platform built by the National Payments Corporation of India (NPCI).
- National Centre for Financial Education was established in 2017 to implement the National Strategy for Financial Education.
- Self-Help Group (SHG) – Bank Linkage Programme (SBLP) was launched by NABARD to provide door-step banking to the poor with the help of SHGs.
- Priority sector lending
- Priority sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation.
- Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.
- Total target for banks is to lend 40% of their total lending to priority sector. Out of this 40, 18% should be in agriculture and 10% to weaker sections.
For Natural Resource Mobilization
- Nation Green Corridor Programme: This project aims at synchronising energy that is produced from renewable energy sources with the conventional stations.
- National Clean Energy Fund: It is the fund created using the carbon tax for backing research and development of innovative eco-friendly technologies.
- National Biogas and Manure Management Programme (NBMMP): It is a central scheme that promotes setting up of Family Type Biogas Plants mostly for the use of rural and semi-urban households. The energy is generated from biodegradable wastes such as cow-dug, wastes from the garden, kitchen, etc.
- Biomass power and cogeneration programme: This scheme aims at optimum utilization of the country’s biomass resources in the power grid.
- National Housing and Habitat Policy, 2007and the Pradhan Mantri Awas Yojana (PMAY), 2015 emphasize on developing appropriate ecological design standards for building components, materials and construction methods.
- Reduced waste generation by RE will contribute towards fulfilling the goals of Swachh Bharat.
- FDI Policy: FDI up to 100% is allowed in the renewable energy sector under the Automatic route and no prior Government approval is needed.
Conservation of Resource
Any resource is largely dependent on their availability. Thus the conservation of these resources is necessary. Saving water and trees or forest is the primary step of resource conservation. Opting for renewable sources like solar and wind power instead of fossil fuels is a wise option.
Controlled utilisation of the resources would lead to retention of the same. We will be able to use them for longer period and leave some in store for the future generations too. Sustainable development should be concentrated upon.