Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
7. In what way small entrepreneurs can prove to be a key to India’s urban future, job creation, and growth revival of the economy? Analyse.(250 words)
Why this question:
The article highlights the growth dynamics of the formal and informal sectors and in that it explains the vital role that small entrepreneurs can play in reviving the growth story of the Indian economy.
Key demand of the question:
Discuss in detail the possible contributions that small entrepreneurs can make to the economy.
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.
Structure of the answer:
First discuss who small entrepreneurs are.
Discuss first the existing Trends in urbanization and formalization of the Indian economy.
Comment on the importance of recognising the role of informal sector as an important driver of growth and job creation.
Quote relevant example if any.
Discuss what aspects foster the coming of small entrepreneurs and in what way they can largely contribute to the economy.
Explain challenges if any involved.
Conclude that our mindset lets large enterprises have a disproportionate influence in policy making, with no place for the informal sector at the table. But India’s urban future, job creation, and growth revival may be with the small entrepreneurs.