Myths and Realities of Inclusive Growth in India and China

Abstract

Inclusive growth strategies in India all along have remained a debatable issue and it is not a completely new agenda of government. In this debate China always takes the centrestage as the two economies are demographically similar to each other, irrespective of many differences specifically differences in governance. But the crucial thing is growth strategies adopted by China all along has addressed issues of not only growth but employment for all sections, whereas in India too much focus is on growth only. Employment agenda of India is never clear. In the name of inclusive growth, local governments are obsessed with providing different kinds of subsidies and freebies which in the long run is not going to ameliorate the problem of unemployment, hence poverty and inequality. So it is high time that everyone should think of inclusive growth in terms of employment generation rather than provision of freebies. In this context skill development is a key issue that needs to be addressed properly.