Development of Inclusive Growth

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Rural Banking in Achieving Inclusive Growth Fostering Rural Development

Rural Banking in Achieving Inclusive Growth Fostering Rural Development

Recognizing the importance of inclusive growth in India, efforts are being taken by the Government of India and RBI to make financial system more comprehensive and to have sustainable development through commercial banks, the co-operative and Regional Rural banks to serve rural population. However there is a long way to go for the financial inclusion to reach to the core poor; according to KC Chakrabarty, RBI Deputy Governor “Even today the fact remains that nearly half of the Indian population doesn’t have access to formal financial services and are largely dependent on money lenders. The rural banks will have to be leveraged for benefiting the rural population through economic growth by promoting various Financial products meant for Financial Inclusion.
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CREDIT FOR RURAL WOMEN ENTREPRENEUR A DEVELOPMENT STRATEGY FOR INCLUSIVE GROWTH

CREDIT FOR RURAL WOMEN ENTREPRENEUR A DEVELOPMENT STRATEGY FOR INCLUSIVE GROWTH

development and promotion. Provision of credit is increasingly being looked upon as an important instrument in assisting the rural poor women to improve their economic conditions. However, there are many examples of credit schemes which have failed to live up to their expectations and in fact run into difficulties having failed to achieve a measure of viability and self sustained operations in the long-term. The credit operations with the poor rural women will need to adopt both innovative as well as business approaches in order to be self-sustaining in their operations - innovative approaches to reduce transaction costs and to achieve a high rate loan recovery, If so, credit must be seen not as an isolated intervention but as an element of an overall strategy to alleviate poverty and empower the Rural poor women entrepreneur towards inclusive growth.
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Growth and Development…   Inclusive Growth: What went wrong with Development?

Growth and Development… Inclusive Growth: What went wrong with Development?

The development strategy which we have mentioned earlier in the above expected to solve macro economic instability in under developed countries. Major problem of under developing countries is found to be centered on Balance of Payment (BoP) problems. Many of the underdeveloped countries, BoP problem originates due the particular growth strategy which they had been selected after the independence. Growth strategy for those countries involved both ‘inward looking’ and based on basic and key industries. For getting technology and capital for such a capitalist growth process, they had forced to import capital goods from other countries and finally remained a situation of having anything to export. This normally leads to BoP problems which normaly had necessitated those counties to depend on IMF and other international institutional for getting so called conditional grants. But in the new growth strategy which we have proposed will expect to generate more surpluses for export but it would necessitate only fewer imports. In such a growth strategy, the most selected sector would be agriculture because it the sector where the most of the labor forces are absorbed in the underdeveloped countries. The sectors which employs relatively less labour forces must give a lesser weightages as compared to labour absorbing sector like agriculture. Suppose, if we had considers those factors in the growth process, would have expected to solve many developmental problems. Further, the growth strategy would not only reduce absolute poverty but also address the problem of relative poverty. Inclusive growth mainly addresses the problem of absolute poverty or the absolute improvement of poor which is indispensable for maintaining the sustainability of conventional growth process. In the absence any absolute improvement for mass section people, might have result socio economic and political instability and finally it could break the conventional growth process.
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SIGNIFICANCE OF INCLUSIVE GROWTH IN INDIAN ECONOMIC DEVELOPMENT – A STUDY

SIGNIFICANCE OF INCLUSIVE GROWTH IN INDIAN ECONOMIC DEVELOPMENT – A STUDY

, Asian Development Bank, and several nongovernmental organizations (NGOs). Successive governments have initiated several projects, such as Jawahar Rozgar Yojna, Integrated Rural Development Program, Rural Housing Scheme, and Swarnjayanti Gram Swarozgar Yojana to promote inclusive growth. However, for inclusive growth to happen in a country with the scale and size of India, private sector involvement is equally important. The private sector has started contributing with initiatives, such as the ICICI Foundation having been set up with the sole purpose of promoting inclusive growth. The government and private sector can play complementary roles in driving inclusive growth. There is a need for the public and the private sector in India to have a unified approach towards how they can extend, innovate, and collaborate in new ways to drive inclusive growth. India is expected to see a slower economic growth of 5.9 per cent in the current fiscal even as there are reasons to believe the "economy has turned the corner", an United Nations agency report said today. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said India’s growth has been slowing down since 2011, mainly on account of "severe" monetary tightening by the Reserve Bank of India. "India is projected to grow at 5.9 per cent in 2012-13 compared with 6.5 per cent in 2011-12," UN ESCAP said in the report titled 'South and South-West Asia Development Report 2012-13'. Projecting a GDP growth of 6.8 per cent for 2013-14, it said there are reasons to believe the economy has turned the corner.” Firstly, in September 2012, the government signalled its determination to pursue pending economic reforms including FDI in multi-brand retail and civil aviation and the partial phasing out of fuel subsidies," it noted. Further, this year's monsoon season was not as weak as initially feared.
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Social Capital Formation Ensuring Inclusive Growth: A Development Mechanics for Backward Region

Social Capital Formation Ensuring Inclusive Growth: A Development Mechanics for Backward Region

The study of determining factors of economic growth in the literature mainly focuses on the factors like the relative stock of physical and/or human capital, trade, the available technology and capability to produce and diffuse knowledge etc. Earlier studies omit a relevant dimension: social culture that promotes economic growth and development. Economic analysis has given less emphasis to the social culture, social norms and regulations that promote economic reforms and development. Economic development of country/region depends on the wider impact of social culture. Recently, economists become more and more interested in the role of social culture as an explanation for why some regions/countries are rich and others remain poor though they have (nearly same levels of) physical and human capital. Several studies have investigated the impact of social culture, which includes social structure based on trust, norms, cooperation and networks. All these lead to develop a new concept of social capital 1 (Bourdieu 1980,
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Inclusive Growth – a Paradigm shift in the benefits of Economic Development								
								
								     
								     
								   

Inclusive Growth – a Paradigm shift in the benefits of Economic Development      

Indian economic growth besides China has attracted global attention. Our economy has been growing around 8% over the last four years and is expected to make our country more prosperous and propel us to the league of developed nations by the year 2020. The concern of policy makers is to reduce the number of people below poverty line and improve quality of life. This paper examines whether in reality has every citizen or at least majority of the society has got benefits from the much talked about high growth. Growth should be more equally shared by all, as many parts of the country remain poor. However we hear from all sources that the vast majority of our country men living in villages whose main occupation is farming, who feed the nation, continue to remain poor and the quality of life has not improved. We define quality of li fe as access to basic necessities like safe drinking water, sanitation and health care needs, uninterrupted power supply, roads and access to quality education. However the population live in metros, towns have reaped the benefit of economic liberalization in terms of improvement in availability of basic necessities. The economists are looking at parameters like availability of telephone per thousand population, improvement in connectivity through low cost airlines, four lane roads, growth in automobiles etc. The manufacturing sector is growing. The textile industry is thriving with exports under liberalized regime. Our foreign e xchange reserves are soaring. The stock market is at record levels. IT sector is booming and is facing shortage of manpower to maintain the momentum. The rosy picture of all the above developments has bye-passed large section of our population living in villages and a few disadvantaged in metros. This has created two “Indias” one India consisting of around 40% population reaping the benefits of growth and the rest 60% suffering with no improvement in either employment opportunities or quality of life. We would like this unfortunate section which deserves to be part of the benefits accruing from growth to be benefited also and we use the term”inclusive growth” for this. According to latest NSSO survey 4 , only 42% of the employable population got work in 2004-05.According to this report rural India faced 56% unemployment and urban India 63%. Even today India compares poorly (Table) with China, Sri Lanka, Vietnam in terms of Infant mortality rates and the % population who have access to sanitation. 1
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Inclusive Growth – a Paradigm shift in the benefits of Economic Development								
								
								     
								     
								   

Inclusive Growth – a Paradigm shift in the benefits of Economic Development      

Indian economic growth besides China has attracted global attention. Our economy has been growing around 8% over the last four years and is expected to make our country more prosperous and propel us to the league of developed nations by the year 2020. The concern of policy makers is to reduce the number of people below poverty line and improve quality of life. This paper examines whether in reality has every citizen or at least majority of the society has got benefits from the much talked about high growth. Growth should be more equally shared by all, as many parts of the country remain poor. However we hear from all sources that the vast majority of our country men living in villages whose main occupation is farming, who feed the nation, continue to remain poor and the quality of life has not improved. We define quality of life as access to basic necessities like safe drinking water, sanitation and health care needs, uninterrupted power supply, roads and access to quality education. However the population live in metros, towns have reaped the benefit of economic liberalization in terms of improvement in availability of basic necessities. The economists are looking at parameters like availability of telephone per thousand population, improvement in connectivity through low cost airlines, four lane roads, growth in automobiles etc. The manufacturing sector is growing. The textile industry is thriving with exports under liberalized regime. Our foreign exchange reserves are soaring. The stock market is at record levels. IT sector is booming and is facing shortage of manpower to maintain the momentum. The rosy picture of all the above developments has bye-passed large section of our population living in villages and a few disadvantaged in metros. This has created two “Indias” one India consisting of around 40% population reaping the benefits of growth and the rest 60% suffering with no improvement in either employment opportunities or quality of life. We would like this unfortunate section which deserves to be part of the benefits accruing from growth to be benefited also and we use the term”inclusive growth” for this. According to latest NSSO survey 4 , only 42% of the employable population got work in 2004-05.According to this report rural India faced 56%unemployment and urban India 63%.Even today India compares poorly (Table) with China, Sri Lanka, Vietnam in terms of Infant mortality rates and the % population who have access to sanitation. 1
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Inclusive Growth of the CEE Countries as a Determinant of Sustainable Development

Inclusive Growth of the CEE Countries as a Determinant of Sustainable Development

two countries represent the lowest level of inclusive growth in both 2006 and 2016. They are Bulgaria 401[r]

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Inclusive Growth and Development: 2015 Antalya Development Roadmap

Inclusive Growth and Development: 2015 Antalya Development Roadmap

Taking into account DWG guidance, the Organisation for Economic Cooperation and Development (OECD) and the World Bank Group (WBG) have delivered a report on policy indicators that can support developing countries’ efforts in designing their policy framework to mobilise investment in infrastructure, along with a preliminary report on understanding the risks and returns on infrastructure investments in Low Income Countries (LICs). Given the close relationship between the policy framework for investment, government capacities to design and manage infrastructure projects and investors’ perceptions, these indicators and the related data gaps are closely linked to understanding and addressing risks and returns of infrastructure investments. Both reports contribute to advancing the understanding of how the G20 can support low income and developing countries tackle their infrastructure gaps. In regard to country-specific sector diagnostics, the Inter-American Development Bank (IADB) prepared, with inputs from various MDBs, a presentation on the Infrascope Diagnostic Studies. This presentation outlines the methodology used for the Infrascope studies which have been commissioned by a number of MDBs to assess countries’ capacity to sustainably develop and implement public-private partnerships in the transport, water, sanitation and electricity sectors. In addition, the WBG noted that a pilot program is now underway to develop a Benchmarking PPP Procurement tool to assess national PPP procurement policies, building on the work that the WBG has previously conducted on benchmarking public procurement systems. Similarly, the IMF referred to Public Investment Management Assessment (PIMA) indicators and PPP Fiscal Risk Assessment Mode (P-FRAM) tools which deal with the fiscal sustainability of infrastructure development.
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Better Governance and inclusive reforms: A key towards Rural Development in India (Challenges to Inclusive Growth in the Emerging Economies)

Better Governance and inclusive reforms: A key towards Rural Development in India (Challenges to Inclusive Growth in the Emerging Economies)

3) Decentralisation. Through the 73rd and 74th Constitutional Amendments in 1992, India sought to devolve powers to gram panchayats. In several areas, such as the PDS in Chhattisgarh, panchayats have played a constructive role. Giving them substantial independence in revenue and expenditure, greater autonomy over how to implement programmes, and more training can strengthen their capabilities; the same point applies to local bureaucracies. “From poverty to empowerment: India’s imperative for jobs, growth, and effective basic services”

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R. Nagaraj (ed.), Growth, Inequality and Social Development in India: Is Inclusive Growth Possible?

R. Nagaraj (ed.), Growth, Inequality and Social Development in India: Is Inclusive Growth Possible?

would conclude that not all of India is shining. It would be clever, authoritative, and distinguished scholarship. I would add the book to a reading list for students next year as a key text but I would come away with that jaded anticipation having become jaded familiarity. But. My eyebrows raised slightly in surprise. The scholars in this book I know most, Chibber, Kohli and Nagaraj are more familiar as writers on industrial policy and economic growth. Others such as Shah (Member of the Planning Commission) or Shankar (water) or Sen (health) have much broader research interests than just poverty. I began reading more intrigued than jaded.
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Inclusive Growth and Employment, Poverty, and Inequality : With Reference to SC and STs in India

Inclusive Growth and Employment, Poverty, and Inequality : With Reference to SC and STs in India

One out of two children in Africa with severe malnutrition dies during hospital treatment due to inappropriate care. 1 out of 4 preschool children suffers from under-nutrition, which can severely affect a child's mental and physical development. Under-nutrition among pregnant women in developing countries leads to 1 out of 6 infants born with low birth weight. This is not only a risk factor for neonatal deaths, but also causes learning disabilities, mental, retardation, poor health, blindness and premature death. Inappropriate feeding of infants and young children are responsible for one-third of the cases of malnutrition. 1 out of 3 people in developing countries are affected by vitamin and mineral deficiencies and therefore more subject to infection, birth defects and impaired physical and psycho-intellectual development. Zinc deficiencies: magnitude unknown but likely to prevail in deprived populations; associated with growth retardation, diarrhoea and immune deficiency. 40 million people living with HIV/AIDS are exposed to an increased risk of food insecurity and malnutrition, espeicially in poor settings, which may further aggravate their situation.
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Inclusive Growth through Organic Farming

Inclusive Growth through Organic Farming

North-East has been identified as the mega bio-diversity spot in terms of its rich reserve of flora and fauna. The Manipur state decided to encourage organic farming in the development area as organic products fetch a premium in the international market. Since 2001-2002, Manipur has been carrying out a horticulture technology mission.

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Role of financial inclusion for inclusive growth of India

Role of financial inclusion for inclusive growth of India

Financial inclusion has been recognized as a key building block which will form the foundation for achieving several of UN’s Sustainable Development Goals. Today with smart technology, towards cash less society and fast services there is a better environment for financial inclusion in India. Financial literacy has a major role to play for economic empowerment of the masses. Banking penetration needs to be stepped up as it would make financial innovation widespread. India is a largest democracy and second most- populous nation, India has a certain responsibility to think more creatively and implement more effectively for full financial inclusion. If and when it does, the rewards will also be that much more noteworthy and gratifying for all involved”. The country can draw positives from the initiatives and impact of financial inclusion, thus far. India needs to strengthen the microfinance revolution, peoples supports, farmers fruitful services, risk management, control on NPA and improve financial literacy, to bring a new identity to establish social rights and to promote financial sustainability in all level. This was enabled through the Jan Dhan Yojana under which the government has opened over 30 crore accounts with almost 60 per cent being in rural areas. Importantly, the zero balance accounts amongst these have declined from 77 per cent in 2014 to 20 per cent nowshowing that the government has been successful in getting unbanked people to actively use it. Part of this has been driven through the linking of Aadhaar and doing Direct Benefit Transfer (DBT) to these Jan Dhan accounts. The next step was to create an infrastructure which could handle all aspects of servicing such a large segment of the population. A multitude of solutions, be it UPI, BHIM, NeSL and BBPS amongst others have been created.
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Gender Inequality and its Implication for Inclusive Growth in Nigeria from 1980 to 2018

Gender Inequality and its Implication for Inclusive Growth in Nigeria from 1980 to 2018

The impact of other conditioning variables that conventionally influence growth and distribution (capital formation, foreign direct investment and trade openness) were statistically significant (except for trade openness). Capital formation has a positive impact on growth both in the short term and long term. This aligns with the findings of Kanu and Ozurumba (2014) that reported that capital formation positively impacts economic growth in Nigeria. Foreign direct investment equally influences growth and by extension inclusive growth. This justifies Alfaro et al. (2006) who concluded that FDI impacts growth positively. In Nigeria, early development was due to foreign direct investment. Trade openness as defined by the export plus import share of GDP though was not statistically significant at the 5% level but still has the potential to make growth inclusive. This is in agreement with Olatunji and Shahid (2015) when they revealed that the transfer of technology to less developed countries from developed nations lead to an increase in the productivity factor and that economic growth was facilitated by trade openness.
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Policy Initiative for Balance Regional Development and Growth

Policy Initiative for Balance Regional Development and Growth

As living today world which have enormous challenges to providing inclusive growth and development with keeping the sustainability of resources for the fu- ture become more elusive and to planning required lot of SWOT Analysis for the present need and threats, SWOT Analysis are more helpful to define the areas of priorities, at which type of good to be produced and at what cost, will it have greater effect In the development in the long-run are the some questions which need address as to merely see target the growth rate are not a solution and cost-benefit analysis need to be address when good have greater impact on envi- ronmental cost and nature of public goods, as well as areas of open access re- sources which need high protection as open resources are the issues which need to address specifically due to its nature of no one have exclusive right of using open resources like fishing in the open sea, one party cannot exclude to by fish- ing to other party, the best solution for open resource problem Ronald Coase [23] has given solution for open resources problem which may be more fruit full for the planner for policy framework.
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Annual report 2012 on the European Community’s development policy and the implementation of external assistance in 2008. Report from the Commission to the Council and the European Parliament. COM (2012) 444 final, 6 August 2012

Annual report 2012 on the European Community’s development policy and the implementation of external assistance in 2008. Report from the Commission to the Council and the European Parliament. COM (2012) 444 final, 6 August 2012

The two building blocks of the Agenda for Change are on the one hand human rights, democracy and good governance and on the other sustainable and inclusive growth. This sustainable and inclusive growth will be stimulated through promoting social inclusion and human development, decent work, business and regional integration, sustainable agriculture, energy supply and access to energy. A differentiated approach is proposed. This means that under the EU's next Multiannual Financial Framework, some countries – notably among those who are now donors in their own right – will receive less or no aid, and will be offered alternative forms of cooperation. This new approach will mean that the EU will be much better placed to promote and defend its core values and stand by its international commitments to its neighbours, particularly those on a path to joining the EU and those undergoing transition, as well as the poorest and most vulnerable globally.
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Budgeting and the inclusive economic growth

Budgeting and the inclusive economic growth

 The GDP Figures in bar-chart 1.1(a) as TGRs and AGRs show fluctuating GDP growth rates and below targets. According to the World Bank, India’s population went from 70 crore to 124crore from 1980 t0 2011 and that of China from 90crore to 134cr. In the same period but poverty at 2$ fell from 84.6 % (1990) to 29.8% in 2008 but in India it fell from 81.7% to 68.7% just as reflected in Pie-chart 1.6. Further India’s share in the world’s population is 17.7% but share in world GDP is just 2.57% in 2011, for China same Figures are 19.2% and 10.4%. Financial crisis, Euro zone melt down and near global recession like condition could not impact China her GDP is better and its defence budget for the fiscal 2013-14 went to 5.4% but in India it is 1.79% of GDP, Investment has fallen to 34.7% in 2011-12 from 38.1% in 2007-08. GDP growth rate is fluctuating in India over the years as reflected in the Bar chart 1.1(a) showings target failures. Even though growth not considered an important indicator of economic development, still it is a necessary condition for the the economy to move and progress ahead. Govt is perusing economic reforms in haste by cutting subsidies, capping access to subsidised cooking gas, permitting FDI in the retail sector and other cuts in the social spending which directly indirectly will cause serious negative impact on the inclusive growth. Agriculture sector has been neglected, industry is sluggish and the service sector growth is mainly determined by the global demand, so economy has come down to the 5% for 2011-12 from 7-8% in 1990s and 2000s.
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A survey of inclusive growth policy

A survey of inclusive growth policy

In order to improve inequality, scholars such as Greenwald and Stiglitz (2010); Ostry et al. (2014); and Stiglitz (2015, 2016) have suggested that the rules regarding taxation policy should be rewritten in a way that reduces exclusion and promotes equality, growth, and employment. In order to do so, Stiglitz (2016) asserted that tax initiatives that focus on rents (both those associated with land and natural resources) would not only lead to greater levels of investment in more productive assets, but also provide significant additional sources of revenue. Changes in this regard would also help to address the marked disparity that has opened up between the growth in labor productivity and real wages. Moreover, removing the preferential treatment that is given to capital gains, especially on land and property, could potentially reduce other economic distortions, thereby reducing inequality (Stiglitz 2015). Such changes would need to be at a level that any increase in taxes on capital would be at least comparable to those placed on labor, and to higher levels for short-term capital gains. The introduction of such steps would lead to lower equilibrium wealth and income inequality (Stiglitz 2016). Reducing inequality through the introduction of these new measures would improve economic performance, not just in the short term, but also in the long. In addition, these fiscal policy measures also play an important role in promoting the three anchors of inclusive growth, namely expanding opportunities, broadening access to opportunities, and developing a social protection mechanism that acts as a safety net and springboard for development (Ali 2007).
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Inclusive growth: The case of state balanced growth fund in Tamil Nadu, India

Inclusive growth: The case of state balanced growth fund in Tamil Nadu, India

Indian economy has entered into a new phase of ‘Inclusive Growth’ after the eleventh five year plan 2012. The rising inequality in economic growth has pushed the Planning Commission to . The concept “Inclusion” should be seen as a process of including the excluded as agents whose participation is essential in the very design of the development process, and not simply as welfare targets of development programmes comprehensive growth, shared growth, and The necessity of inclusive growth in India can be stressed with ease while glancing at its Human Development Index (HDI). India’s rank is 130 out of 188 nations, according to UNDP Tamil Nadu has been India’s most progressive state and is amongst the top three on several economic and social indicators. Although the State has achieved reasonable levels in terms of arities within the State, particularly in levels of poverty in its various dimensions, per capita income, literacy, health, and gender related indicators are significant. Recognising the regional disparities in terms of Income, Employment, Health, Education and Gender attainments, the State has formulated a new scheme “State Balanced Growth Fund” to district disparities. This paper intends to unearth the ground realities
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