Is India’s Inclusive Growth a ‘Chimera’ ? Essay

Economic Development: Growth is associated with structural, social change and change in the important institutions of the economy.

India has a highly dynamic and entrepreneurial business environment (Ford, 2011). The freedom of democracy in India supports the country’s private enterprise greatly. India’s characteristics of sovereignty could very well succeed China’s Communist led, authoritarian growth model (Schuman, 2012).

During the film, the subject of poverty was actively depicted. Even though this issue has raised great concerns for India in the past, statistics show that this problem has gradually decreased. In 1978 the percentage of people living on less than $2

As a first generation Indian-American, I am no stranger to being a part of a distinct community while observing two unique cultures. Traveling to India exposed me to a dynamic population with rich diversity comprising of numerous languages and differing religions. Though these individuals may have had differing customs from their neighbors, there were similar ambitions to conquer grinding poverty. This poverty can be clearly noticed by seeing citizens sleeping on floors of a railway station, or the lack of air conditioning in searing hot weather. The frailty and mortality of the human condition was starkly visible in India. As a fellow human, I was humbled not only by the lack of privilege and opportunity of many citizens, but also by their

In Bill McKibben’s book Deep Economy, the chapter “After Growth” contains McKibben’s assertion dealing with the challenges of economic growth. McKibben states that economic growth has done little to diminish wealth inequality, done little to help stop the detrimental effects on the planet, and done little to make us any happier.

*Sustained Growth* Policies, perspectives, and social connections have the potential to make long-lasting impact now. The way is open and supported for authentic, balanced, and practical developments. Stay true, stay real, and success will be yours eventually. Not the provocative, short-term excitement success. The type of achievement that will last a lifetime.

The Center for American Progress convened a transatlantic Commission on Inclusive Prosperity aimed at establishing sustainable and inclusive prosperity over the long term in developed economies, with a specific focus on raising wages, expanding job growth, and ensuring broadly shared economic growth. The commission was composed of high level American and international policymakers, economists, business leaders, and labor representatives and was charged with developing new and thoughtful solutions to spur middle class growth.

The rapid economic growth trends demonstrated by China and India are currently at the height of debate amongst world leaders and economists. According to “Dancing with Giants: China, India, and the Global Economy”, edited by L. Alan Winters and Shadid Yusuf (2007), these countries are very unique in that their economic patterns of growth continue to increase and sustain momentum over an extended period of time while dealing with growing populations. The fact that these countries have illustrated a sustained pattern of growth means that they are beginning to, or have already shifted the balance of power within the global community; however, many scientists believe that this trend has shown negative side effects within the social and political settings because inequalities within both regions continue to rise. In Dancing with Giants: China, India, and the Global Economy (2007) the author states that, “Chinese and Indian authorities face important challenges in keeping their investment climate favorable, their inequalities levels at intervals that do not undermine growth, and their air and water quality at acceptable levels” (8). In a discussion, I will deconstruct the effects of China and India’s economic growth on social inequalities.

An additional justification on agreeing with Gandhi’s quote pertains to the failed economic growth and overall development caused by the tyrannical control of a country, leading to a breakdown of the regime. The term “economic growth” is defined as an increase in a country’s productive capacity as measured by comparing the Gross Domestic Product (GDP) of the respective country per annum. A plethora of categories must be taken into account to determine the degree of economic growth, such as the increase in capital stock, advances in technology, and the improvement of literacy levels. On the other hand, in terms of the essay, the overall development is the overall degree of success, prosperity, and well-being in all aspects of living. To

The concept of ‘sustainable development’ is one that has faced heated debates for decades now. A seemingly harmless concept, it raises a lot of questions as to what it really entails and how exactly it can be achieved. But with more than 1.3 billion people living in abject poverty (less than $1.25 a day), and with a reported 22,000 children dying every day as a result of poverty (UNICEF), the debate for Sustainable Development becomes interesting as it questions the extremity of economic growth policies, in the war against poverty. Many note economic growth and development as the only tool for poverty alleviation. Roemer and Gugerty, for example, report that GDP growth of 10% per year is associated with income growth of 10% for the poorest 40% of the population. However, others question the extent to which economic growth should be put above other socio-economic factors. Lele points out that the focus on economic growth has led to important ecological and social sustainability, taking the backseat. He argues that due to strong emphasis on economic growth, not enough attention is paid to social equity, and economic stability within the development discourse.

Raising peoples’ living levels, i.e. incomes and consumption, levels of food, medical services, education through relevant growth processes. 2. Creating

From the time of independence, India has been suffering from acute poverty, most of it is chronic in nature. If we look at the percentage of people below the poverty line, we do notice a sharp fall, but the absolute number remains increasing at a high rate.

The differences between the rich and poor in India are like the opposite sides of a coin. The poor of India are mistreated and abused. Their homes are surrounded by trash and sewage and are very likely to be flooded, deathly hot and severely polluted. Nearly 25% of the population in India is under the poverty line. The families in the slums of India only care about surviving and marriage. Balram describes their relationship with the rich as “The rich are always one step ahead of us-aren’t they?” (Adiga 230). Balram means that he felt that the rich were always taking advantage of him and his family’s ability to work and he wanted to get ahead of the rich. The rich are blissfully unaware of the

Economic success defines a nations success in modern day society. Sure India has had a prosperous past. But as we continue in this post colonial world, the need to prove ourselves has only been higher. It has been over 60 years since we achieved independence and became a republic, we are yet to prove our “potential” to the world. The world’s parameter to determine our capabilities are high, just as it ought to be to encourage each nation to develop to its fullest ability. Competition generally helps nations to do better and achieve greater. When we first gained independence much of the idea of development and being an economic super power was furthered by the socialist of welfare oriented governance but since the end of the Soviet Russia

This research also shows that economic growth, on average, raises incomes for both the rich and the poor. It helps to lift the poorest in society out of absolute poverty and does not automatically increase inequality. More importantly, no country has managed to lift itself out of poverty without integrating into the global economy.