20 May SUSTAINABLE DEVELOPEMENT
(GS PAPER-3, SUSTAINABLE DEVELOPEMENT
SOURCE- THE HINDU)
World Economic Forum has suggested 3 practical ways by which countries can boost social inclusion as well as economic growth.
- First, countries should increase public and private investment in their citizens’ capabilities, which is the most important way they can durably lift their rate of productivity growth.
- Second, governments, together with employers’ and workers organizations, should upgrade national rules and institutions relating to work. These influence the quantity and distribution of job opportunities and compensation, and thus the level of purchasing power and aggregate demand within the economy.
- Third, countries should increase public and private investment in labor-intensive economic sectors that generate wider benefits for society. These include sustainable water, energy, digital, and transport infrastructure, care sectors, the rural economy, and education and training.