Producitve Employment Creation with Reasonable Earnings is the Main Solution for Inclusive Growth

Abstract

After 20 years of implementation of the New Economic Policy (NEP), it is the time for looking back and evaluate India's achievements and failures. India has been recognized by the rest of the world only during this period. India’s economy is one of the fastest growing economies of the world. But the growth is uneven. It made millions of Indians millionaires; at the same time, it could not give better life to the poor. Most of the middle-class people became poor during this period. To fill the big gap between the poor and rich, Indian government started taking steps to include the so far excluded groups into the growth process. Government of India set Inclusive Growth as its objective to be achieved in the 11th Five Year Plan. Indian government achieved a little progress in its objective, but it could not bring all the sections of the people under the growth umbrella. The government is continuing the same objective in the I2th plan also naming it as “Faster, Sustainable and More Inclusive Growth. This article is emphasizing the need for creating productive employment at a faster pace to achieve the inclusive growth.