Measures for promoting inclusive growth from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
Measures for promoting inclusive growth refer to policies and strategies aimed at ensuring that the benefits of economic growth are shared by all sections of society. Inclusive growth is crucial for reducing inequality, poverty, and social exclusion. One of the key measures for promoting inclusive growth is the provision of quality education and skills training. Education plays a vital role in enabling individuals to access better job opportunities and improve their standard of living. By investing in education, governments can empower individuals from marginalized communities and bridge the gap between the rich and the poor. Another important measure is the promotion of financial inclusion. Access to financial services such as banking, credit, and insurance is essential for enabling individuals to save, invest, and protect themselves against risks. By expanding financial inclusion, governments can empower the poor and marginalized communities to participate in the formal economy and benefit from economic growth. Furthermore, measures for promoting inclusive growth also include social protection programs such as unemployment benefits, healthcare, and social security. These programs provide a safety net for vulnerable individuals and families, protecting them from economic shocks and ensuring their well-being. By investing in social protection, governments can reduce poverty, inequality, and social exclusion. Additionally, promoting entrepreneurship and innovation is another key measure for promoting inclusive growth. By supporting small and medium enterprises and creating a conducive environment for innovation, governments can stimulate economic growth and create job opportunities for the marginalized sections of society. Entrepreneurship can empower individuals to become self-reliant and contribute to economic development.- Measures for promoting inclusive growth are essential for creating a more equitable and sustainable society. By investing in education, financial inclusion, social protection, and entrepreneurship, governments can ensure that all individuals have equal opportunities to participate in and benefit from economic growth. Inclusive growth is not only a moral imperative but also a strategic imperative for achieving long-term economic development and social progress.
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