06 Apr The pillars of an equitable post-COVID India (The Hindu, GS-3, Economy)
Context:- According to Pew Research Report:- India’s middle class may have shrunk by a third.
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- Situation may actually be worse than estimated because of worsening inequalities.
- Other organizations are also warned about about such rising inequalities.
- in the pre-covid-> Indian economy was slowing down, so already india had higher inequalities.
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- Compounding existing problems of unemployment
- low incomes
- rural distress
- malnutrition
- widespread inequality
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- Vulnerability of unorganized sector due to shocks.
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- What should be the way forward:-
- Focus on employment and wages
- raising human development
- quasi universal basic income and other social safety nets which decrease the vulnerability of human being.
- Focus on employment and wages
- creation of quality and productive employment is basic to the inclusive growth approach.
- Investment in infrastructure including construction will create employment thereby reducing the inequality.
- seven challenges in employment:
- correcting the mismatch between demand and supply of labour
- Structural change challenge
- labour-intensive exports.
- focusing on MSME and informal sectors including rights of migrants.
- Social security and decent working conditions for all
- raising human development
- Increasing public expenditure on health
- Education and health achievements are essential for reducing inequality of opportunities.
- quasi universal basic income
- Way forward:–
- find opportunities + spaces -> which will facilitate that power can be challenged and redistributed.
- qualitative sustainable economic growth and the well-being of the population.
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Plutus IAS Current Affair Team Member
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