Inclusive growth refers to a concept of growth where each section of economy is involved with a bottom up rather than a top down approach.
Major challenges of Inclusive growth in India can be summed up as-
Disparity: between rich and poor, urban and rural, educated and uneducated.
Demography: Half of India is young which can be converted into efficient workforce for the world, by providing them with nutrition, skills and job opportunities.
In india, employability of labour force is too low in comparison to developed countries that restrict the use of manpower.
Only 2% of labor force in India is certified skilled, in comparison to 70% in Britain and 96% in South Korea.
– It is one of the main reason for presence of useless manpower in India.
Policy making: Inclusive access to welfare policies, safety of people, reduced corruption, providing health services , providing insurance is still a distant dream .
•Increased spending in Rural areas – to build infrastructure, roads, connectivity, creation of employment,
•Increased spending on education, health and MSME credit.
•Vocational training, skill development, e-governance initiative, direct benefit Transfer along with gender budgeting should be the priority of the government.
Social sector schemez like MGNREGA, Sarva Shiksha abhiyan, National health policy, Jan dhan Yojana, need to be implemented with strong political will to bring about improvement in respective areas.