Download - Dissertation Kapil
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SIMS
INCLUSIVE GROWTH
Kapil Sharma
2c-43
Finance-marketing
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Translating Macroeconomic Growth
into all round Economic Development
of every Indian through achieving
positiveness of Balance ofTradecoupled with tamed Inflation
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` Inclusive growth is the centre-piece of our growth process. Fast
economic growth has little meaning if it does not lead to the well-being
of the poor and the disadvantaged, of our farmers, workers, our
children, students and women.
-Dr Manmohan Singh
` Growth implies rapid economic development in terms of GDP
` Inclusive means that this growth should be reflected in the life of every
citizen of the nation
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GROWTH
2009-10 GDP-7.4%
IMF growth predictions
changed :8.8% to 9.4%
ForexReserves:$287bn
Foreign trade:$178 bn
INCLUSIVE
UN HDI :Ranks 134
IMR rate:53/1000births
Literacy:64%
Female literacy: 53%
Life expectancy: 64
yrs
Sex ratio: 933F/1000M
Wide disparity amongstates
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` Growth process would take care of the evils.
` Govt. obsessed with the GDP growth numbers
` Believe resources from GDP growth will trickle down : MGNREGA
` Investment in education :3.5% of GDP
` 11th 5 yr plan: education plan
` Expenditure on health gone down
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INFRASTRUCTURE:
` India bypassed the manufacturing stage
` 60% population depended on agriculture
` Contribution towards GDP:18%
`
For every Re.1 spent on the poorest 20% population, Rs.3 is spenton the richest quintile.
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Commendable Efforts
` Right of Children to Free and Compulsory Education Act
` Sarva Shiksha Abhiyan
` Mid Day Meal Scheme
` National Rural Health Mission
` Janani Suraksha Yojna
` JNNURM
` Food Security Act,PDS
BUT
POOR IMPLEMENTATION
Is
The
PROBLEM
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` Difference of exports and imports
` India always had a negative BOT
` Reasons:
1. Growing population
2. Increasing consumption
3. Need for capital goods
4. Inadequate resources
5. Low quality ,highly priced export goods
6. Huge domestic requirement
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` India contribution towards world trade limited
` Foreign trade controlled by restrictions
` 1951:2.4%
` 1980:0.4%
` 1990:0.5%
` 2003:0.8%
` presently:1.6%
` Problem area: Non-dominating exports
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` Leading exporter of :
1. Gems and jewellery
2. Engineering goods
3. Leather manufactures
4. Chemicals
` Export trends changing continuously
` Heavily dependent on imports for oil & coal
` Fiscal deficit further expected to widen due to growing needs
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1) FTA( free trade agreement)
India & Srilanka,Thailand
` Benefits:
1. Regional cooperation must for economic gains
2. Countries can pace their own growth
3. Help reducing hostility among neighboring countries
4. Economies of scale
5. Attraction for FDI
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` Money wont buy as much today as you could yesterday
` Major types
1) Demand pull
2) Cost push
` Problems:
1. Imbalance between supply & demand
2. Crisis( Mortgage crisis 2008)
3. Adverse affect on poverty conditions
4. Economic uncertainty dampens investment climate
5. Both producers & consumers loose
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` Situation in India:
Sep 2009: 0.5%
Mar 2010: 11%
` Reasons for high inflation
1. Worst rainfall in 37 yrs
2. Fiscal stimulus given after recession
3. Increase in income levels
` Mainly food inflation which turned into Generalized inflation
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` Fixing up prices
` Effective implementation of PDS
` Mehangi is a problem, But availability is equally a problem
` Decontrolling petrol prices may not be a good move
` Looking for similar agricultural practices
` Crash programme to reduce wastage
` Commodities contributing more to inflation to be taken care
` Managing excess liquidity: Monetary measures
` Stop hoarding
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` Sound position of on our foreign trade front
` Caution about current account & its full convertibility
` Inflation needs to be tamed
` But remember Inflation is a part& parcel of every growing
economy
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` Inclusive growth is what we should be aiming at
1) Agriculture dependent population should be taken care of
2) Relieve agriculture of extra burden
3) Reform required in PDS system:UIDAI cards
4) Health sector to be provided with adequate human resource &
Infrastructure
5) Revamping education system is a must
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