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4) To ensure the region’s growth path remains strong and sustainable, new policies and initiatives need to remain mindful of fiscal, financial and environmental risks of the South Asia. Comment.(250 words)

Topic:Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

4) To ensure the region’s growth path remains strong and sustainable, new policies and initiatives need to remain mindful of fiscal, financial and environmental risks of the South Asia. Comment.(250 words)

Reference

Why this question:

A newly released paper by the IMF’s Asia and Pacific Department finds that South Asia is poised to play an even bigger role in the global economy going forward, in both relative and absolute terms.

Key demand of the question:

One has to discuss why new policies and initiatives need to remain mindful of fiscal, financial and environmental risks of the South Asia. Highlight the importance of South Asia region and need to focus upon its growth and development.

Directive:

Commenthere we have to express our knowledge and understanding of the issue and form an overall opinion thereupon.

Structure of the answer:

Introduction: 

In brief explain the significance of south Asia.

Body:

Explain that South Asia’s contribution to global growth is set to increase over the medium to longer term, while more mature economies decelerate. Greater economic diversification, with an expansion of the service sector, improvements in education, and a still sizable demographic dividend are among the key elements underpinning this performance. 

India in particular has benefitted from the transition from exporting tea and fabrics several decades ago towards a more sophisticated basket of goods and services today.

Conclusion:

Conclude that to build on the strong performance to date and allow for growth to take off in earnest, the countries in the region will need to step up their policy and reform agenda.

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