Question

how can development goals of different sections of our society can be achieved ?

Answer 1

The way to achieve the development goals of different sections in society is through economic growth. The government needs to create a conducive policy environment to accelerate the rate of economic growth of the country. The steps needed for faster economic growth are

1. More investment in the economy, including foreign investment.
2. More investment in infrastructure.
3. More investment in human capital formation, i.e in the health and education of the people.

However, economic growth itself may not be sufficient to achieve the development of all sections of society. Some of the weaker sections of society may require more affirmative action by the government. People who come from very deprived background may not be immediately able to develop the capabilities to participate in the economy. For such prople, the government needs to implement redistributive measures by taxing the rich and transferring it to the poor. Such transfers may take the form of subsidized food, guaranteed minumum wage employment and free health and educational services.