{"id":42678,"date":"2024-06-19T07:39:07","date_gmt":"2024-06-19T07:39:07","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=42678"},"modified":"2024-06-19T07:39:09","modified_gmt":"2024-06-19T07:39:09","slug":"indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/","title":{"rendered":"India&#8217;s Journey to a Developed Economy &#8211; UPSC Daily Editorial Analysis &#8211; 17th June 2024"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/edukemy.com\/upsc-current-affairs?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Current+Affairs\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1280\" height=\"300\" src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/19.png\" alt=\"\" class=\"wp-image-42406\" srcset=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/19.png 1280w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/19-1170x274.png 1170w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/19-585x137.png 585w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><\/figure>\n\n\n\n<p>India&#8217;s journey to becoming a developed economy is a tale of resilience, innovation, and transformative growth. Emerging from the shadows of colonial rule in 1947, India has since charted a path marked by rapid industrialization, technological advancements, and substantial economic reforms. Despite grappling with challenges such as poverty, infrastructural deficits, and social inequalities, India has managed to position itself as a burgeoning global power. The liberalization policies initiated in the 1990s catalyzed economic dynamism, leading to a surge in foreign investments, an expanding middle class, and a robust service sector, particularly in information technology. As India continues to navigate the complexities of globalization and domestic development, its aspiration to achieve developed nation status reflects not just an economic ambition, but a comprehensive vision<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Tags: GS Paper &#8211; 3, Economy- Growth &amp; Development<\/strong><\/p><\/blockquote>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69d4e214008ba\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d4e214008ba\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Context\" title=\"Context: &nbsp; &nbsp;&nbsp;\">Context: &nbsp; &nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#What_about_the_Developed_Country\" title=\"What about the Developed Country?\">What about the Developed Country?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Key_Characteristics_of_Developed_Countries\" title=\"Key Characteristics of Developed Countries:&nbsp;\">Key Characteristics of Developed Countries:&nbsp;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Economic_Factors\" title=\"Economic Factors:\">Economic Factors:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Social_and_Human_Development_Factors\" title=\"Social and Human Development Factors:\">Social and Human Development Factors:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Technological_and_Innovation_Factors\" title=\"Technological and Innovation Factors:\">Technological and Innovation Factors:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Measurements_and_Indicators\" title=\"Measurements and Indicators:\">Measurements and Indicators:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Per_Capita_Income\" title=\"Per Capita Income:\">Per Capita Income:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Human_Development_Index_HDI\" title=\"Human Development Index (HDI):\">Human Development Index (HDI):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Examples_of_Developed_Countries\" title=\"Examples of Developed Countries:\">Examples of Developed Countries:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#The_Major_Growth_Drivers_Propelling_India_Towards_a_Developed_Economy\" title=\"The Major Growth Drivers Propelling India Towards a Developed Economy:\">The Major Growth Drivers Propelling India Towards a Developed Economy:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Rise_of_the_Services_Sector\" title=\"Rise of the Services Sector:\">Rise of the Services Sector:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Demographic_Dividend\" title=\"Demographic Dividend\">Demographic Dividend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Government_Initiatives_for_Infrastructure_Development\" title=\"Government Initiatives for Infrastructure Development\">Government Initiatives for Infrastructure Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Digital_Transformation_and_Startup_Ecosystem\" title=\"Digital Transformation and Startup Ecosystem\">Digital Transformation and Startup Ecosystem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Economic_Resilience_Despite_Global_Slowdown\" title=\"Economic Resilience Despite Global Slowdown\">Economic Resilience Despite Global Slowdown<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Innovation_and_Entrepreneurship\" title=\"Innovation and Entrepreneurship\">Innovation and Entrepreneurship<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#The_Major_Roadblocks_to_Indias_Goal_of_Developed_Economy\" title=\"The Major Roadblocks to India\u2019s Goal of Developed Economy:\">The Major Roadblocks to India\u2019s Goal of Developed Economy:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Jobless_Growth\" title=\"Jobless Growth:\">Jobless Growth:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Poverty-Education-Skill_Trap\" title=\"Poverty-Education-Skill Trap:\">Poverty-Education-Skill Trap:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#High_Public_Debt\" title=\"High Public Debt:\">High Public Debt:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Vast_Income_Inequality\" title=\"Vast Income Inequality:\">Vast Income Inequality:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Rural-Urban_Divide_and_Unbalanced_Development\" title=\"Rural-Urban Divide and Unbalanced Development:\">Rural-Urban Divide and Unbalanced Development:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Climate_Change_Vulnerabilities\" title=\"Climate Change Vulnerabilities:\">Climate Change Vulnerabilities:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Infrastructure_Deficit_and_Financing_Challenges\" title=\"Infrastructure Deficit and Financing Challenges:\">Infrastructure Deficit and Financing Challenges:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Measures_can_India_Adopt_to_Accelerate_Progression_Towards_a_Developed_Economy\" title=\"Measures can India Adopt to Accelerate Progression Towards a Developed Economy:\">Measures can India Adopt to Accelerate Progression Towards a Developed Economy:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Leveraging_Demographic_Dividend_through_Skill_Development\" title=\"Leveraging Demographic Dividend through Skill Development:\">Leveraging Demographic Dividend through Skill Development:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Balanced_Regional_Development_and_Rural_Transformation\" title=\"Balanced Regional Development and Rural Transformation:\">Balanced Regional Development and Rural Transformation:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Preventive_and_Affordable_Healthcare\" title=\"Preventive and Affordable Healthcare:\">Preventive and Affordable Healthcare:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Innovative_Infrastructure_Financing_and_Public-Private_Partnerships\" title=\"Innovative Infrastructure Financing and Public-Private Partnerships:\">Innovative Infrastructure Financing and Public-Private Partnerships:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Fostering_Innovation_and_Technological_Advancement\" title=\"Fostering Innovation and Technological Advancement:\">Fostering Innovation and Technological Advancement:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Unlocking_the_Potential_of_the_Blue_Economy\" title=\"Unlocking the Potential of the Blue Economy:\">Unlocking the Potential of the Blue Economy:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Formalising_Informal_Sector_and_Promoting_Startup_Hubs\" title=\"Formalising Informal Sector and Promoting Startup Hubs:\">Formalising Informal Sector and Promoting Startup Hubs:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Green_Collar_Jobs_Revolution\" title=\"Green Collar Jobs Revolution:\">Green Collar Jobs Revolution:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#1_What_are_the_major_milestones_in_Indias_economic_development_since_independence\" title=\"1. What are the major milestones in India&#8217;s economic development since independence?\">1. What are the major milestones in India&#8217;s economic development since independence?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#2_How_has_economic_liberalization_in_1991_impacted_Indias_growth\" title=\"2. How has economic liberalization in 1991 impacted India&#8217;s growth?\">2. How has economic liberalization in 1991 impacted India&#8217;s growth?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#3_What_challenges_does_India_face_in_becoming_a_developed_economy\" title=\"3. What challenges does India face in becoming a developed economy?\">3. What challenges does India face in becoming a developed economy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#4_What_role_does_the_IT_sector_play_in_Indias_economic_development\" title=\"4. What role does the IT sector play in India&#8217;s economic development?\">4. What role does the IT sector play in India&#8217;s economic development?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#5_What_measures_is_the_Indian_government_taking_to_sustain_long-term_economic_growth\" title=\"5. What measures is the Indian government taking to sustain long-term economic growth?\">5. What measures is the Indian government taking to sustain long-term economic growth?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#In_case_you_still_have_your_doubts_contact_us_on_91-9773890604\" title=\"In case you still have your doubts, contact us on +91-9773890604.&nbsp;\">In case you still have your doubts, contact us on +91-9773890604.&nbsp;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/edukemy.com\/blog\/indias-journey-to-a-developed-economy-upsc-daily-editorial-analysis-17th-june-2024\/#Visit_our_YouTube_Channel_%E2%80%93_here\" title=\"Visit our YouTube Channel &#8211;&nbsp;here\">Visit our YouTube Channel &#8211;&nbsp;here<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Context\"><\/span><strong>Context: &nbsp; <\/strong>&nbsp;&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India&#8217;s journey to becoming a developed nation requires addressing fiscal and structural challenges, fostering inclusive growth, and strengthening the export sector.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" data-src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXcPk8wBJaDekkHOpDuDluGHaBVllXE4LQ-nkYKtr7FYBVuSEEYxmfR1oBTRnBuSDGu3vkG-MLKl7tomunyBwNCoqHW60RximxCkDChabVXD8L_Wkhko30FcbY16bmm2AElb7n_4GGTowqYLE4oOq3z_NG2ipSl2trPAF0tq?key=Bn48sO8nEtY67TH21NBD1w\" alt=\"Growth &amp; Development\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" \/><figcaption><strong>Growth &amp; Development<\/strong><\/figcaption><\/figure><\/div>\n\n\n<p>India aims to become a developed nation by 2047, requiring a significant rise in per capita income from USD 2,600 to USD 10,205.&nbsp;<\/p>\n\n\n\n<p>This goal demands a 7.5% annual per capita income growth and a 9% GDP growth rate over the next 25 years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_about_the_Developed_Country\"><\/span><strong>What about the Developed Country?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A developed country refers to a nation with a mature and advanced economy, characterised by high levels of industrialization, technological infrastructure, and overall societal well-being.&nbsp;<\/p>\n\n\n\n<p>The term &#8220;developed&#8221; distinguishes these countries from &#8220;developing&#8221; or &#8220;underdeveloped&#8221; nations, which are still undergoing economic and social growth.<\/p>\n\n\n\n<p>India, currently classified as a developing nation, is the world&#8217;s fifth-largest economy with a GDP of 3.42 trillion USD.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Characteristics_of_Developed_Countries\"><\/span><strong>Key Characteristics of Developed Countries:&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Economic_Factors\"><\/span><strong>Economic Factors:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>High per capita income (typically above USD 12,000 to USD 25,000 or more)<\/p>\n\n\n\n<p>Diversified and advanced industrial and service sectors<\/p>\n\n\n\n<p>Robust infrastructure, including transportation, communication, and utilities<\/p>\n\n\n\n<p>Stable and efficient financial markets<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" data-src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdlx3ghynbP7z33UDD2YKYOlqY2EUzpXft9MGfwfT1rkiu0avbG-9sru6FjYN4nW8xNcrA4m40fAL53CXfSVlLtYelIJs3NyIRUAMLnEw2nwWb2tN4tbXsBnynHT9g7NqEJKiJalDVEYJuhX6annxZu5qnBrOab4M0pl2RnjA?key=Bn48sO8nEtY67TH21NBD1w\" alt=\"Economic Factors\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" \/><figcaption><strong>Economic Factors<\/strong><\/figcaption><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Social_and_Human_Development_Factors\"><\/span><strong>Social and Human Development Factors:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>High levels of education and literacy<\/p>\n\n\n\n<p>Access to quality healthcare and social services<\/p>\n\n\n\n<p>Low infant mortality and high life expectancy rates<\/p>\n\n\n\n<p>Robust legal and political institutions, with democratic governance<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Technological_and_Innovation_Factors\"><\/span><strong>Technological and Innovation Factors:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Advanced technological infrastructure and capabilities<\/p>\n\n\n\n<p>Strong emphasis on research and development (R&amp;D)<\/p>\n\n\n\n<p>High levels of innovation and productivity<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Measurements_and_Indicators\"><\/span><strong>Measurements and Indicators:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Per_Capita_Income\"><\/span><strong>Per Capita Income:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the primary indicators used to determine a country&#8217;s development status<\/p>\n\n\n\n<p>Calculated by dividing the Gross Domestic Product (GDP) by the total population<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Human_Development_Index_HDI\"><\/span><strong>Human Development Index (HDI):<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A composite index used by the United Nations to measure a country&#8217;s overall well-being<\/p>\n\n\n\n<p>Factors include life expectancy, education levels, and standard of living<\/p>\n\n\n\n<p>Countries with an HDI score above 0.8 are generally considered developed<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Examples_of_Developed_Countries\"><\/span><strong>Examples of Developed Countries:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to the International Monetary Fund (IMF), some developed countries include the United States, Canada, Japan, Australia, and New Zealand.<\/p>\n\n\n\n<p>Other examples include Singapore, South Korea, and Hong Kong in Asia.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Major_Growth_Drivers_Propelling_India_Towards_a_Developed_Economy\"><\/span><strong>The Major Growth Drivers Propelling India Towards a Developed Economy:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rise_of_the_Services_Sector\"><\/span><strong>Rise of the Services Sector:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Significant Contribution to GDP<\/strong>: India&#8217;s services sector contributes over 50% to the GDP, offering high-value jobs and attracting foreign investment.<\/p>\n\n\n\n<p><strong>Global Leadership in IT and BPO<\/strong>: Industries like IT and Business Process Outsourcing (BPO) have made India a global leader, providing services to international clients and integrating the economy globally.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Demographic_Dividend\"><\/span><strong>Demographic Dividend<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Young Population: <\/strong>With a median age of 28.2 years (2023), India possesses a large pool of human capital that can drive economic growth if properly skilled and employed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Government_Initiatives_for_Infrastructure_Development\"><\/span><strong>Government Initiatives for Infrastructure Development<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Pradhan Mantri Gati Shakti National Master Plan:<\/strong> The Indian government&#8217;s initiative aims to boost efficiency and economic activity across sectors through infrastructure development projects.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Digital_Transformation_and_Startup_Ecosystem\"><\/span><strong>Digital Transformation and Startup Ecosystem<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Digital India Initiative: I<\/strong>ndia is undergoing a digital revolution with increasing internet penetration, facilitated by initiatives like the Unified Payment Interface.<\/p>\n\n\n\n<p><strong>Thriving Startup Ecosystem: <\/strong>The country hosts a growing number of startups and research institutions, fostering innovation and creating new growth opportunities across various sectors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Economic_Resilience_Despite_Global_Slowdown\"><\/span><strong>Economic Resilience Despite Global Slowdown<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Relative Domestic Demand Resilience: <\/strong>Despite global economic uncertainties and geopolitical tensions, India&#8217;s domestic demand has shown resilience, with the RBI forecasting a 7% real GDP growth in 2024-25.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Innovation_and_Entrepreneurship\"><\/span><strong>Innovation and Entrepreneurship<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Cultural Embrace of Innovation:<\/strong> India is nurturing a culture of innovation and entrepreneurship, evidenced by the proliferation of startups and research institutions focused on developing cutting-edge technologies and solutions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Major_Roadblocks_to_Indias_Goal_of_Developed_Economy\"><\/span><strong>The Major Roadblocks to India\u2019s Goal of Developed Economy:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jobless_Growth\"><\/span><strong>Jobless Growth:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Despite India&#8217;s impressive economic growth of 7.8% in FY 2023\u201324, it has not translated into sufficient job creation.<\/p>\n\n\n\n<p>A significant portion of the workforce remains entrenched in low-productivity agriculture, which contributes nearly 15% to GDP but employs 44% of the workforce.<\/p>\n\n\n\n<p>India needs to generate 115 million jobs by 2030 to accommodate its expanding workforce.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poverty-Education-Skill_Trap\"><\/span><strong>Poverty-Education-Skill Trap<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Poor quality primary and secondary education in India limits cognitive development and diminishes the potential benefits of higher education.<\/p>\n\n\n\n<p>This results in a workforce ill-prepared for higher-skilled jobs, contributing to a shortage of 150 million skilled workers.<\/p>\n\n\n\n<p>Despite the National Education Policy, the education system in India is slow to adapt to evolving industry demands, leaving many graduates without the specific skills sought by employers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"High_Public_Debt\"><\/span><strong>High Public Debt:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India&#8217;s public debt stands at 81.9% of GDP, raising concerns about fiscal sustainability.<\/p>\n\n\n\n<p>The high debt burden necessitates high-interest rates, which crowd out private investment and impede economic growth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Vast_Income_Inequality\"><\/span><strong>Vast Income Inequality:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India exhibits high income inequality, with a substantial portion of the population living in poverty.<\/p>\n\n\n\n<p>In 2022-23, the top 1% of income earners captured 22.6% of national income, exacerbating income disparities and hindering inclusive growth and access to basic services for many.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rural-Urban_Divide_and_Unbalanced_Development\"><\/span><strong>Rural-Urban Divide and Unbalanced Development:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>While India&#8217;s urban centres have experienced economic growth, rural areas face persistent poverty, inadequate infrastructure, and limited access to basic services.<\/p>\n\n\n\n<p>Neglecting rural development deepens social disparities and poses risks of social unrest, which could impede overall progress.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Climate_Change_Vulnerabilities\"><\/span><strong>Climate Change Vulnerabilities:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Rapid industrialization and urbanisation in India have led to environmental degradation, including air and water pollution, deforestation, and biodiversity loss.<\/p>\n\n\n\n<p>These environmental impacts not only affect public health and quality of life but also undermine the sustainability of economic growth.<\/p>\n\n\n\n<p>Failure to prioritise adaptation and mitigation measures could jeopardise India&#8217;s development trajectory, with up to 4.5% of GDP at risk by 2030, according to the Reserve Bank of India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Infrastructure_Deficit_and_Financing_Challenges\"><\/span><strong>Infrastructure Deficit and Financing Challenges<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India faces a substantial infrastructure gap, particularly in transportation, power, and urban infrastructure, which acts as a bottleneck to economic development.<\/p>\n\n\n\n<p>The infrastructure deficit is estimated at around USD 1.5 trillion, complicating efforts to spur economic growth.<\/p>\n\n\n\n<p>Challenges such as land acquisition, environmental clearances, and regulatory hurdles further delay infrastructure projects and contribute to cost overruns.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Measures_can_India_Adopt_to_Accelerate_Progression_Towards_a_Developed_Economy\"><\/span><strong>Measures can India Adopt to Accelerate Progression Towards a Developed Economy:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Leveraging_Demographic_Dividend_through_Skill_Development\"><\/span><strong>Leveraging Demographic Dividend through Skill Developmen<\/strong>t:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India must heavily invest in vocational education, skill development programs, and apprenticeships to build a globally competitive workforce.<\/p>\n\n\n\n<p>Collaborating with industry to design curriculum aligned with market demands and emerging technologies such as AI, robotics, and renewable energy, drawing lessons from models like Norway&#8217;s.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Balanced_Regional_Development_and_Rural_Transformation\"><\/span><strong>Balanced Regional Development and Rural Transformation<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Prioritise investment in rural infrastructure, including roads, electrification, healthcare, and digital connectivity, to bridge the rural-urban divide.<\/p>\n\n\n\n<p>Incentivize agro-processing units and manufacturing hubs in rural areas to create non-farm job opportunities.<\/p>\n\n\n\n<p>Promote sustainable agriculture practices, precision farming, and access to credit and insurance to enhance rural incomes and food security.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Preventive_and_Affordable_Healthcare\"><\/span><strong>Preventive and Affordable Healthcare:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Increase public healthcare spending to at least 2.5% of GDP, as recommended by the National Health Policy 2017, to strengthen the healthcare system and improve Human Development Index indicators.<\/p>\n\n\n\n<p>Promote preventive healthcare through awareness campaigns, early detection, and lifestyle interventions.<\/p>\n\n\n\n<p>Utilise digital technologies like telemedicine to enhance healthcare access in remote areas and reduce costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Innovative_Infrastructure_Financing_and_Public-Private_Partnerships\"><\/span><strong>Innovative Infrastructure Financing and Public-Private Partnerships:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Explore innovative financing models such as asset monetization and securitization of infrastructure assets, along with tapping into global capital markets.<\/p>\n\n\n\n<p>Promote infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) to attract long-term institutional investors for infrastructure projects.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fostering_Innovation_and_Technological_Advancement\"><\/span><strong>Fostering Innovation and Technological Advancement:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Increase R&amp;D investment to 2% of GDP, in line with the Science, Technology, and Innovation Policy 2020 targets.<\/p>\n\n\n\n<p>Establish clean technology parks, incubation centres, and circular-economy zones to attract global technology leaders and foster innovation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Unlocking_the_Potential_of_the_Blue_Economy\"><\/span><strong>Unlocking the Potential of the Blue Economy<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Harness India&#8217;s coastal resources through sustainable maritime activities like coastal shipping, marine tourism, offshore wind energy, and deep-sea mining.<\/p>\n\n\n\n<p>Develop infrastructure for ship repair, logistics hubs, and coastal economic zones to stimulate trade, employment, and economic growth.<\/p>\n\n\n\n<p>Promote marine biotechnology and value-added marine products to meet global demand.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Formalising_Informal_Sector_and_Promoting_Startup_Hubs\"><\/span><strong>Formalising Informal Sector and Promoting Startup Hubs:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Implement a portable social security system for informal sector workers to incentivize formalisation and job security.<\/p>\n\n\n\n<p>Establish well-funded startup hubs in Tier-2 and Tier-3 cities to foster disruptive innovation beyond major metros.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Green_Collar_Jobs_Revolution\"><\/span><strong>Green Collar Jobs Revolution:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Implement green jobs training programs in partnership with industries to prepare the workforce for roles in renewable energy, waste management, and sustainable infrastructure.<\/p>\n\n\n\n<p>Provide tax incentives and subsidies to companies hiring and training workers in green sectors, promoting job creation and sustainable development.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>UPSC Civil Services Examination, Previous Year Questions (PYQs)<\/strong><br><br><strong>Prelims<\/strong><br><strong>Q:1 In the \u2018Index of Eight Core Industries\u2019, which one of the following is given the highest weight? (2015)<\/strong><br>(a) Coal production<br>(b) Electricity generation<br>(c) Fertiliser production<br>(d) Steel production<br><strong>Ans: (b)<\/strong><br><br><strong>Q:2 Increase in absolute and per capita real GNP do not connote a higher level of economic development, if: (2018)<\/strong><br>(a) Industrial output fails to keep pace with agricultural output.<br>(b) Agricultural output fails to keep pace with industrial output.<br>(c) Poverty and unemployment increase.<br>(d) Imports grow faster than exports.<br>Ans: (c)<br><br><strong>Q:3 In a given year in India, official poverty lines are higher in some States than in others because: (2019)<\/strong><br>(a) Poverty rates vary from State to State<br>(b) Price levels vary from State to State<br>(c) Gross State Product varies from State to State<br>(d) Quality of public distribution varies from State to State<br><strong>Ans: (b)<\/strong><br><br><strong>Mains<\/strong><br><strong>Q.1 \u201cIndustrial growth rate has lagged behind in the overall growth of Gross-Domestic-Product(GDP) in the post-reform period\u201d Give reasons. How far are the recent changes in Industrial Policy capable of increasing the industrial growth rate? (2017)<\/strong><br><strong>Q.2 Normally countries shift from agriculture to industry and then later to services, but India shifted directly from agriculture to services. What are the reasons for the huge growth of services vis-a-vis the industry in the country? Can India become a developed country without a strong industrial base? (2014)<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p>Source: <a href=\"https:\/\/www.hindustantimes.com\/opinion\/developed-country-ambitions-need-deep-structural-reforms-101718294004740.html\">HT<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_are_the_major_milestones_in_Indias_economic_development_since_independence\"><\/span>1. What are the major milestones in India&#8217;s economic development since independence?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Answer:<\/strong> Since gaining independence in 1947, India has undergone significant transformations to achieve economic development. Major milestones include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>1951-1965<\/strong>: Introduction of the Five-Year Plans focusing on industrialization and self-sufficiency.<\/li><li><strong>1969-1974<\/strong>: Green Revolution, which significantly increased agricultural productivity.<\/li><li><strong>1991<\/strong>: Economic liberalization, marked by the shift from a closed economy to one that is more market-oriented, promoting foreign investment and private sector growth.<\/li><li><strong>2000s<\/strong>: Rapid growth in the IT and services sectors, positioning India as a global technology hub.<\/li><li><strong>2014-Present<\/strong>: Implementation of key reforms like the Goods and Services Tax (GST) and the Make in India initiative to boost manufacturing and economic growth.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_How_has_economic_liberalization_in_1991_impacted_Indias_growth\"><\/span>2. How has economic liberalization in 1991 impacted India&#8217;s growth?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Answer:<\/strong> The economic liberalization of 1991 was a pivotal moment for India, leading to:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Higher Growth Rates<\/strong>: The average GDP growth rate increased from around 3-4% before 1991 to 6-8% in the subsequent decades.<\/li><li><strong>Foreign Investment<\/strong>: Attracted significant foreign direct investment (FDI), boosting infrastructure and technology transfer.<\/li><li><strong>Private Sector Expansion<\/strong>: Reduced government control allowed for the private sector to flourish, driving innovation and efficiency.<\/li><li><strong>Global Integration<\/strong>: India became more integrated into the global economy, enhancing trade and economic opportunities.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_challenges_does_India_face_in_becoming_a_developed_economy\"><\/span>3. What challenges does India face in becoming a developed economy?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Answer:<\/strong> Despite notable progress, India faces several challenges on its path to becoming a developed economy:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Infrastructure Deficits<\/strong>: Inadequate infrastructure hampers economic activities and growth.<\/li><li><strong>Income Inequality<\/strong>: Significant disparities in income distribution, with a large portion of the population still living in poverty.<\/li><li><strong>Education and Skills<\/strong>: Need for improvement in the education system and vocational training to meet the demands of a modern economy.<\/li><li><strong>Healthcare<\/strong>: Access to quality healthcare remains a challenge for many, impacting overall productivity.<\/li><li><strong>Governance and Corruption<\/strong>: Bureaucratic inefficiencies and corruption can impede economic progress and investor confidence.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_role_does_the_IT_sector_play_in_Indias_economic_development\"><\/span>4. What role does the IT sector play in India&#8217;s economic development?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Answer:<\/strong> The IT sector is a cornerstone of India&#8217;s economic development, contributing significantly in several ways:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Employment<\/strong>: Provides millions of jobs, both directly and indirectly, supporting a large segment of the population.<\/li><li><strong>Export Earnings<\/strong>: IT services and software exports are major sources of foreign exchange earnings.<\/li><li><strong>Innovation and Entrepreneurship<\/strong>: Fosters a culture of innovation, with many tech startups emerging, especially in cities like Bangalore and Hyderabad.<\/li><li><strong>Global Competitiveness<\/strong>: Enhances India&#8217;s position in the global economy, attracting international business and investment.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_What_measures_is_the_Indian_government_taking_to_sustain_long-term_economic_growth\"><\/span>5. What measures is the Indian government taking to sustain long-term economic growth?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>Answer:<\/strong> The Indian government is implementing various measures to sustain long-term economic growth, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Economic Reforms<\/strong>: Ongoing reforms such as GST, Insolvency and Bankruptcy Code (IBC), and labor law reforms to improve the business environment.<\/li><li><strong>Digital India<\/strong>: Promoting digital infrastructure to boost connectivity and e-governance.<\/li><li><strong>Make in India<\/strong>: Encouraging domestic manufacturing to reduce dependency on imports and create jobs.<\/li><li><strong>Skill Development<\/strong>: Initiatives like Skill India to enhance the skill set of the workforce.<\/li><li><strong>Infrastructure Development<\/strong>: Large-scale investments in roads, railways, ports, and urban infrastructure to facilitate economic activities.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/edukemy.com\/upsc\/upsc-essay?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Essay\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" data-src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/UPSC-Essay-Course-1280\u00d7300-1-3.svg\" alt=\"\" class=\"wp-image-42688 lazyload\" width=\"781\" height=\"182\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 781px; --smush-placeholder-aspect-ratio: 781\/182;\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"In_case_you_still_have_your_doubts_contact_us_on_91-9773890604\"><\/span><strong>In case you still have your doubts, contact us on +91-9773890604.<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For UPSC Prelims Resources,&nbsp;<a href=\"https:\/\/edukemy.com\/upsc-cse-prelims-resource-centre\" target=\"_blank\" rel=\"noreferrer noopener\">Click here<\/a><\/p>\n\n\n\n<p>For Daily Updates and Study Material:<\/p>\n\n\n\n<p>Join our Telegram Channel &#8211;&nbsp;<a href=\"https:\/\/t.me\/WithEdukemy4IAS\" target=\"_blank\" rel=\"noreferrer noopener\">Edukemy for IAS<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>1. Learn through Videos &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3vOD8sU\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>2. Be Exam Ready by Practicing Daily MCQs &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3Q9z2nF\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>3. Daily Newsletter &#8211; Get all your Current Affairs Covered &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3bE2y5J\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>4. Mains Answer Writing Practice &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3mZuVxl\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Visit_our_YouTube_Channel_%E2%80%93_here\"><\/span>Visit our YouTube Channel &#8211;&nbsp;<a href=\"https:\/\/www.youtube.com\/@EduKemyforIAS\">here<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s journey to becoming a developed economy is a tale of resilience, innovation, and transformative growth. Emerging from the shadows <\/p>\n","protected":false},"author":21,"featured_media":42679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[352],"tags":[160,161,3442,232,140],"class_list":["post-42678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-editorial-analysis","tag-daily-current-affairs","tag-daily-current-affairs-upsc","tag-developed-economy","tag-upsc","tag-upsc_preparation_strategy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/42678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/comments?post=42678"}],"version-history":[{"count":1,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/42678\/revisions"}],"predecessor-version":[{"id":42682,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/42678\/revisions\/42682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media\/42679"}],"wp:attachment":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media?parent=42678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/categories?post=42678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/tags?post=42678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}