GS3 - Economy - Half Test - 05 Flashcards
(11 cards)
What are the key differences between economic ‘growth’ and ‘development’?
Growth is a unidimensional, quantitative measure of economic progress, while development is a multidimensional, quantitative and qualitative measure of socio-economic progress. Growth is narrow, short-term, and market-driven, whereas development is broader, long-term, and driven by government and social institutions.
What is ‘jobless growth’?
Jobless growth refers to economic growth that does not lead to proportionate employment growth.
What are the main causes of jobless growth in the Indian economy?
Causes include growth in non-labor-intensive sectors, informalization, capital-intensive production, automation, infrastructure deficit, stagnant manufacturing, rising labor costs, and employability gaps.
What measures can be taken to address the challenges of jobless growth in India?
Measures include focusing on labor-intensive sectors, promoting entrepreneurship, increasing MSME productivity, integrating with global value chains, enhancing human capital, extending social security, increasing female labor force participation, filling government vacancies, and formulating a National Employment Policy.
Economic ‘growth’ is a ________ measure of economic progress, while ‘development’ is a ________ measure of socio-economic progress.
unidimensional; multidimensional
What percentage of Indian graduates are properly employable compared to China?
Only 7% of Indian graduates are properly employable compared to 30% in China.
What are the keywords related to economic growth and development?
- Economic growth
- Development
- Jobless growth
- Labor-intensive sectors
- Informalization
- Capital-intensive
- Automation
- Employability gap
- National Employment Policy
What are the issues related to jobless growth?
- Non-labor-intensive sectors
- Informalization
- Automation
- Infrastructure deficit
- Employability gap
What are the solutions to address jobless growth?
- Labor-intensive focus
- Entrepreneurship promotion
- MSME productivity
- Human capital enhancement
- Social security extension
What is the way forward for addressing jobless growth?
- National Employment Policy
- Demand-supply convergence
- Quality jobs creation
- Quality workforce development
What value additions are mentioned in relation to jobless growth?
- SKILL INDIA Report data
- India-EFTA ΤΕΡΑ example
- Rajasthan gig workers bill
- Gender budgeting
- Startup India Seed Fund Scheme
