There has been an unprecedented growth in most part of the world during the last few decades. Unfortunately, this growth has not touched all parts of our society. While the poverty has been reduced in some of the emerging economies like India, China and Vietnam, half of the world's population owns less than 1% of the wealth and particularly in India the situation is even starker. The immediate challenge for India is to propagate and infuse an inclusive and sustainable growth.
For a rapid and sustained poverty reduction there must be an inclusive growth that allows people to contribute to and benefit from economic growth. Rapid pace of growth is unquestionably necessary for poverty reduction, but for this growth to be sustainable in the long run, it should be broad-based across sectors, and inclusive of all parts of society.
Sustained growth rates and poverty reduction, however, can be realized only when the sources of growth are expanding, and an increasing share of the labour force is included in the growth process in an efficient way.
In order to create a better and sustainable future for our society, Governments, Corporates and NGOs will need to work collectively.
Written by Administrator
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