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5th February 2024 (9 Topics)

Inclusive Growth and Government Schemes

Context :

The vision for amrit kaal and viksit bharat must pay emphasis on inclusive growth and better convergence of Government schemes. For instance better convergence between MGNREGA and PM-Awas-G can yield rich dividends. 

1. Post-Covid Economic Recovery and Agricultural Sector Analysis:

   - GDP Growth and Inclusive Recovery: Recognition of India's impressive post-Covid recovery with over 7% GDP growth for consecutive years, yet a deeper examination of the agriculture sector's crucial role in inclusive growth.

   - Macro-economic Performance Comparison: Comparative analysis of India's real GDP growth, CPI inflation, multidimensional poverty reduction, and unemployment rates during the Modi government (FY15-FY24) and UPA government (FY05-FY14).

   - Agricultural Sector Challenges: Noting the challenges faced by the agricultural sector, with a focus on the deceleration in agri-GDP growth and the increased share of agriculture in the labor force post-Covid.

2. Inclusive Growth Strategies and Fiscal Policies:

   - Fiscal Consolidation Moves: Acknowledging the Finance Minister's budgetary provisions for FY25, emphasizing fiscal consolidation by reducing the fiscal deficit from 5.8% to 5.1% of GDP.

   - Rationalizing Subsidies: Advocating for the reorientation of doles and subsidies towards sustainable development expenditures and fiscal consolidation, with specific attention to fertiliser subsidy reduction and the need for major rationalization in other welfare subsidies.

   - Development Expenditures and Environmental Sustainability: Proposing a shift in focus towards sustainable development expenditures, including agri-R&D, micro-irrigation, rural infrastructure, agri-marketing, and investments in building efficient value chains.

3. Strategies for Inclusive and Sustainable Growth in Amrit Kaal:

   - Budgetary Allocations: Examining the budgetary allocations for the Department of Fisheries, Animal Husbandry and Dairying, recognizing the growth potential of these sectors within agriculture.

   - Integration of MGNREGA and PM Awas Yojana: Commending the significant increase in PM Awas Yojana (Gramin) and proposing synchronization with MGNREGA to ensure rural households have decent shelters, contributing to the vision of Ram Rajya in rural areas.

   - Tackling Child Malnutrition and Nutritional Security: Advocating a shift from food security to nutritional security and emphasizing the need for an agriculture system resilient to climate change while protecting soil, water, air, and biodiversity.

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