As India sets the target of $5 trillion economy, GDP indicators show a downward trend. Quarterly GDP growth falls to 5 per cent-seven year low, casting a shadow on Modi's plans. While it may be true that $1 trillion was added between 2014 and 2019, making it a $3 trillion economy; adding another $2 trillion will be a difficult task. A report by TEAM INCLUSION
India seems to be at a crossroads. Good policymaking and timely intervention from the government will take it to the $5 trillion goal earlier than expected and result in economic prosperity for all. On the other hand, delay and reactionary stopgap measures could blow up the current slowdown in certain sectors, an economy-wide phenomenon, which could result in massive setbacks in growth achieved thus far, analyses TEAM INCLUSION
Despite a continuing fall in the growth rate of India's GDP for the last several quarters there are indicators that point to a turn-around of the rural economy. Positive and long-term improvements can be seen in foodgrains production, in horticulture, dairy, poultry and fisheries, access to physical infrastructure such as electricity and roads, per-capita income of poorer states (which have a high percentage of rural population), wages of unskilled labour and growing employment in non-farm occupations due to programmes such as MUDRA. However challenges still remain in some vital sectors, such as water, marketing of fruits and vegetables, skill development, education and health.
Supporters as well as critics of ModiNomics agree that the target of $5 trillion economy is challenging but achievable. The issue is not just about achieving the target of a particular size of the economy. It's a wider issue of how do we achieve it and in the process what happens to the critical challenges that the country faces like poverty, inequality and jobs. The road to $5 trillion economy should be used to create a highway for reaching the next level of expansion, say $10 trillion and $20 trillion in a particular time-frame. Towards the end of 2018, India 2030: A Socio-Economic Paradigm book, published by SKOCH Group, pitched for $10 trillion target by 2030.
What is the secret of longevity? Balanced diet, regular exercises and quality healthcare services. If your answer is just these, you are missing out several other factors. Health and longevity are dependent not just on taking good care of body but also taking equally good care of mind and spirit. A number of factors affect this, from the art of laughing and practising gratitude to the love and support of your spouse and parents to eating chocolate!
There's consensus now across the political and ideological divide that even in the high- growth years, a large section of the population was not receiving the dividends of the progress India has made. There are a number of deeply-entrenched factors because of which every Indian has not been able to benefit from the GDP growth India has seen in the last two and a half decades post-liberalisation in 1991.
Pradhan Mantri MUDRA Yojana (PMMY), which provides access to institutional finance (MUDRA Loans of <10L) to small business units and entrepreneurs, has led to 5.5 crore jobs in just over two years, addressing the most critical challenge facing the country. According to the survey titled 'MUDRA Scheme: a Game Changer Initiative on Job Creation', a total of 54,479,763 jobs have been generated through MUDRA. These include 37,753,217 direct jobs and 16,726,545 indirect jobs. The report was released at the 49th SKOCH Summit at New Delhi.
Anupam Verma, who works for a multi-national company in Mumbai, was deeply disturbed after reading a report regarding the presence of poisonous chemicals in conventionally grown fruits and vegetables that he and his family used to eat everyday. The report was indeed scary. It said the consumption of these produce might cause life-threatening diseases like cancer, neurological defects, autism and respiratory and reproductive problems. Verma did not want to take a chance and decided to use only 'organic produce', which are presented in the report as a healthy alternative.