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Do you think India should turn away from supply-side measures and pursue demand-side policies to address poverty and unemployment in India? Critically analyse.

Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

5. Do you think India should turn away from supply-side measures and pursue demand-side policies to address poverty and unemployment in India? Critically analyse. (250 words)

Difficulty level: Tough.

Reference: Indian Express

Why the question:

In early November, three troubling reports came in. Approximately 5.46 million Indians lost their jobs in October as per CMIE data.

Key Demand of the question:

To write about the need to re-examine the policy approach towards tackling poverty and unemployment in India.

Directive word: 

Critically analyze – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them 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 balanced judgment on the topic.

Structure of the answer:

Introduction: 

Start by giving statistics about prevailing poverty and unemployment in India.

Body:

 In the first part, mention the approach taken so far. The supply side policy measures taken by the government. Mention their shortcomings.

Next, write about the difference a policy which takes on the demands side approach towards poverty and unemployment in India. Write about its pros and cons.

Conclusion:

Conclude with way forward as to how India approach should be after covid-19 worsening poverty and unemployment in India.