Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Inclusive growth and issues arising from it.
4) “Economic growth and human development need to go hand in hand, without it a $5 trillion economy seems a distant dream”. Critically examine.(250 words)
Why this question:
The author in the article discusses in detail how a $5 trillion economy seems a distant dream unless the country revives aggregate demand and healthcare.
Key demand of the question:
Students are expected to elucidate on how economic growth is linked to human development and one can not be achieved without the other.
Critically analyze – When asked to analyse, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary. When ‘critically’ is suffixed or prefixed to a directive, one needs to look at the good and bad of the topic and give a fair judgement.
Structure of the answer:
Discuss the dream of $5 trillion economy in short.
One has to explain that the country still has not overcome the challenges related to human development such as health aspects, ageing population, employment, lack of investments in agriculture etc.
Then explain how the above problems have consequences on economic growth of the country.
Take cues from the article and explain in what way it is essential for the country to focus on human development to achieve greater goals of economic growth.
Conclude by emphasizing need to work on human development front to ensure continuous economic growth and development.