The Policy Monitor
In the 21st century India where social and economic policies are being put in place to hasten and strengthen the process of women empowerment, some fundamental negative externalities are in place neutralizing the impact of such policy changes, with Climate Change being one such prominent negative externality.
The consecration of Shri Ram Lalla idol at the newly reconstructed Shri Ram temple in Ayodhya, immediately before the 75th Republic Day heralds the beginning of a new epoch in Indian history. In some ways it resembles the 26th January 1930 when, though reluctantly, Indians embraced the inevitable, their destiny.
The post-independence development trajectory of India has been based on a number of growth models from time to time. The outcomes however have been mixed. While it was expected of the Indian economy to steadily transition from the primary to the secondary sector, the latter failed to absorb the surplus labour from agriculture. In an attempt to find subsistence, the out-marching agricultural labour derived subsistence from the informal sector. Over the course of time eventually, the informal sector in India has grown considerably. Lately, the policy prescription has been trying to limit the informal sector in India. The present note is a brief elucidation on the viability and importance of the informal sector for the Indian economy. The note draws on the common observations and contemporary factual outcomes and tries to validate the case for the prevalence of the informal sector in the Indian economy.
The circular economy has emerged as a crucial model for building sustainability by minimizing resource use and waste generation through product reuse, refurbishment, and recycling. However, the latest Circularity Gap Report highlights a widening gap globally between resource consumption and sustainability targets.
Ensuring equal pay for women is not only a matter of fundamental fairness but also a powerful driver of economic development. Closing the gender pay gap contributes to increased household income, reducing poverty rates, and fostering economic stability and a more equitable distribution of resources. When women receive fair compensation, they are more likely to invest in education and contribute to a skilled workforce, enhancing productivity and innovation.
Poverty is multidimensional and thus the concept of it has to be extended beyond the deprivation of income; not only extended to the deprivation of basic necessities such as food, clothing and shelter or access to social securities of health and education, but also to the deprivation of freedom (such as political freedom) or social acceptance.
We are nearly seven years into the 2015 Paris Accord where the world came together and decided that we have to put a stop to the rising temperatures at 1.5 degrees of pre industrial levels, and we are already at 1.1 degrees. If the above statement is anything to go by, I would think it’s a safe, but heart-wrenching assumption that we will fail to effectively restrict the rise in temperatures.
India earns nearly Rs. 65,000 crores by exporting Rice, synonym to water export as it requires 4000-5000 litre to produce 1 kg. At the same time govt spend Rs. 1,34,280 crore by importing Oilseeds and Pulses, most eco-friendly crops known to improve soil fertility and contribute to human health.
The consumer no more works on the basic
economic assumption of rationality. Under the influence of psychological and social factors,
the consumer desires to conform to societal norms. The consumer does not only consume the
good for its intrinsic value but also to climb up the virtual social ladder.
It’s time for the nation to apply the lessons from its unexpected achievements in the past to ignite a health revolution for a bright future. It’s time for the nation to sit back and re-evaluate what is lost and what could have been saved. It’s time for the nation to not settle but instead, move on to a better normal.