According to the latest statistics, about 25% of the Indian population belongs to the rural poor. Women make up one-third of the Indian labour force. However, social constraints have prevented them from having access to and making use of the available resources that may help them improve their living conditions. Self Help Group is seen by many as the catalyst for rural development, women and social empowerment. Its importance in the Indian economy is seen through many success stories like production of 13 different bioagents to support organic farming by Sabari Swasraya Sanghom of Nellarachal tribal hamlet, Kudumbashree SHG, etc. They are not only inspirational but also the obvious solutions to the existing socio-economic problems of India.
Prime Minister Narendra Modi, in his Independence Day speech, addressed the problem of population explosion in India. He termed those who opt for smaller families as patriots. He argued that the development and prosperity of the nation begin only when all the individuals are healthy and resourceful. He appealed for the public effort to reduce the population at the ground level. This speech comes with the backdrop of the UN Population Projections report that estimated that India will be the most populous country in the world through the current century.
Currently, the world is facing many threats like climate change, isolationism, global conflicts, unemployment, poverty, and inequality. Simultaneously, with the advent of the Industrial revolution 4.0, the world is also facing exciting changes like the emergence of self-driving cars, 5G networks, etc. However, the Industrial Revolution 4.0 has its downside. It is argued that, if the change is not addressed properly there will be negative implications like a further increase in unemployment and poverty crisis. The concept of Globalization 4.0 seeks to address these issues and promote inclusive and sustainable growth.
India, being one of the fastest-growing economies, despite the international tensions like Trade war and rising isolationism in the current times, is reducing the poverty ratio of its population at a rapid pace.
However, several of the Indians are still suffering due to extreme poverty. According to the Brooking report, about 3% of the Indian population is suffering due to extreme poverty.
With enormous resources and skills, India has the potential to help its entire population overcome poverty. This is of essence as it indirectly slows down the economic growth of the country and hinders the government’s ambition to become $5 Trillion economy by 2024.
According to the Periodic Labour Force Survey (PLFS) by National Sample Survey Office, the overall unemployment rate in the country in FY18 was at 6.1%.
However, the current survey, according to the government, is conducted in different method compared to the previous surveys.
But unemployment remains a problem, and the Government must take initiatives to make full use of the younger population to boost the growth and development of the economy.
Recently, the union government has introduced 124th Constitution Amendment Bill (10% Quota Bill) in the Parliament to provide for 10% reservation for economically weaker sections (EWS) among the general category candidates in higher education and government employment.
Sikkim is set to become the first state in India to launch Universal Basic Income (UBI). The idea of universal basic income has gained popularity in the western nations due to the threat of automation-induced job losses. In India, the idea gained ground due to the chronic poverty & inequality and the government’s failure to provide subsidies effectively to poor people. Moreover, the persistent farm distress and poor wage growth across occupations also highlight the need for an income support scheme in India.
Recently, there has been a rise of honor killings in the country and this has led the government as well as the Supreme Court to step forward in stopping this heinous crime. Reportedly, more than 1,000 young people in India have been killed every year in the name of honour which is linked to forced marriages and the country needs to introduce stringent legislation to effectively deal with these heinous crimes.