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Q. With reference to the concept of Inclusive growth, consider the following statements:
  1. The agenda for inclusive growth was first envisaged in the 12th Plan document which intended to achieve sustainable and inclusive growth.
  2. The concept of Green GDP has been included under the inclusive growth paradigm.
  3. Inclusive growth not only includes economic perspective but also encompasses environmental friendly growth
Which of the above given statements is/are incorrect?

  1. 1 and 3 only

  2. 1 only

  3. 2 and 3 only

  4. 3 only


Solution

The correct option is B
1 only
Explanation:

Statement 1 is incorrect: The agenda for inclusive growth was envisaged in the Eleventh Plan document which intended to achieve not only faster growth but a growth process which ensures broad-based improvement in the quality of life of the people, especially the poor, SCs/STs, other backward castes (OBCs), minorities and women and which seeks to provide equality of opportunity to all. Bringing these excluded sections of the society into the mainstream of the society so that they are able to reap the benefits of faster economic growth is the kind of ‘inclusion’ which is being envisioned in the concept of inclusive growth.

Statement 2 is correct: To calculate green GDP net natural capital consumption, including resource depletion, environmental degradation, and protective and restorative environmental initiatives is subtracted from traditional GDP. These calculations can also be applied to the net domestic product (NDP), which deducts the depreciation of produced capital from GDP. In each case, it is required to convert the resource activity into a monetary value, since it is in this manner that indicators are usually expressed in national accounts
Inclusive growth concept focuses on sustainable development as well which encompasses environmental sustainability  and resources use efficiency.
Green GDP concentrates on resource use efficiency and sustainable development.

Statement 3 is correct: Inclusive growth means economic growth that creates employment opportunities and helps in reducing poverty. It means having access to essential services in health and education by the poor. It includes providing equality of opportunity, empowering people through education and skill development. It also encompasses a growth process that is environment friendly growth, aims for good governance and helps in creation of a gender sensitive society.

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