{"id":284406,"date":"2024-02-24T18:41:53","date_gmt":"2024-02-24T13:11:53","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=284406"},"modified":"2024-02-26T18:16:00","modified_gmt":"2024-02-26T12:46:00","slug":"changing-the-growth-paradigm-in-india","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/changing-the-growth-paradigm-in-india\/","title":{"rendered":"Changing the Growth Paradigm in India"},"content":{"rendered":"

\"Growth<\/p>\n

Source:<\/strong> This post has been created based on the article \u201cChanging the growth paradigm<\/strong>\u201d published in \u201cThe Hindu<\/strong>\u201d on 24th<\/sup> February 2024.<\/p>\n

UPSC Syllabus Topic: <\/strong>GS Paper 3 Indian Economy \u2013 Indian Economy and issues relating to growth and development.<\/p>\n

News:<\/strong> The article discusses the dominant paradigm for growth in India and the issues with it. Growth Paradigm in India<\/strong><\/p>\n

Background:<\/strong><\/p>\n

The Governor of the Reserve Bank of India recently said in an open letter to the Union Finance Minister that India\u2019s economy is not healthy. To improve the well-being of citizens, they need decent jobs, which the Indian economy has not provided despite impressive growth of GDP.<\/p>\n

What is the dominant paradigm for growth in India?<\/strong><\/h2>\n

All Indian governments, since the liberalisation of the economy in 1991, have focused on GDP. This paradigm focuses on increasing the size of the pie before its redistribution<\/strong>.<\/p>\n

It has replaced \u201csocialist\u201d models which were concerned with conditions at the bottom. In this model of progress, villages are bad, cities are good; farms are bad, and factories are good.<\/p>\n

What is the issue with the current growth model?<\/strong><\/h2>\n

1) Inequality: <\/strong>India is becoming one of the most unequal countries in the world with this flawed model of economic progress. Structural conditions that cause inequitable growth<\/strong> have worsened.<\/p>\n

2) Environmental Concerns:<\/strong> With the present model of progress, India must use more fossil fuels to propel economic growth. This has become a bone of contention in global climate negotiations, where all countries are expected to make equal sacrifices to save the global climate.<\/p>\n

3) Dependence on Fossil Fuels:<\/strong> They are required for steel, concrete, plastics, and mobile machinery used for transportation and farming runs on fossil fuels.
\na. Usage of Fossils in the Food Industry:<\/strong> Fertilizers are produced from fossil-fuel feedstock. Farm machinery is made of steel and runs on fossil fuels. Plastics are used for hygienic transportation of food in global supply chains.<\/p>\n

Therefore, India must find a new paradigm of progress, for itself and for the world, for more inclusive and environmentally sustainable growth.<\/p>\n

 <\/p>\n

Read More UPSC Topics-<\/strong><\/h2>\n\n\n\n\n
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On India-UK Defence Ties \u2013 In a tough world, the beacon of U.K.-India strategic ties<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

What should be the way forward for a new paradigm of growth?<\/strong><\/h2>\n

According to the author, the following needs to be done:<\/p>\n

    \n
  1. Retreat of agricultural mechanization.<\/li>\n
  2. Reduction in the use of synthetic agrochemicals and services.<\/li>\n
  3. Need for the labor force to leave cities to produce food in the old ways. Purely organic farming would require people to abandon cities and resettle villages.<\/li>\n
  4. Local systems solutions, cooperatively developed by communities in their own villages and towns, are the way to solve global systemic problems of climate change and inequitable economic growth.<\/li>\n<\/ol>\n

    Rather than trying to catch up with rich countries on their historical development paths, India should take advantage of its present realities. India\u2019s policymakers must free themselves from western-dominated theories of economics.<\/p>\n

    Question for practice:<\/strong><\/p>\n

    What is the issue with the current growth model in India? What should be the way forward for a new paradigm of growth?<\/p>\n","protected":false},"excerpt":{"rendered":"

    Source: This post has been created based on the article \u201cChanging the growth paradigm\u201d published in \u201cThe Hindu\u201d on 24th February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy \u2013 Indian Economy and issues relating to growth and development. News: The article discusses the dominant paradigm for growth in India and the issues with… Continue reading Changing the Growth Paradigm in India<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":284592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,8184,10498],"class_list":["post-284406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-indian-economy","tag-the-hindu","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2024\/02\/Growth-Paradigm-in-India.png?fit=1280%2C1000&ssl=1","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/284406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=284406"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/284406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/284592"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=284406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=284406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=284406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}