Inclusive Growth Case Study

Given the importance of the concept of inclusive growth and its ambiguous definitions, scholars have tried to explain inclusive growth from different dimensions. In a study by Bolt (2004), he argues that agriculture and the rural economic development play a crucial role in achieving inclusive growth as one-third of the population in Asia’s developing countries are rural-based and depend on agriculture for a living. The study found compelling evidence that accelerating agriculture and rural development has the potential for regenerating the rural economy and, hence, is a critical component of an inclusive growth strategy. More specifically, Fernando (2008) highlights the importance of rural infrastructure in fostering inclusive growth. He argues

This should facilitate a sketch of occupational, social and regional profiles of the included/excluded and hence, appropriate policy design or strategy for the inclusion of the excluded in the mainstream growth process. This study, therefore, makes an attempt to provide a perspective, a measure of inclusion, and finally an evaluation (for illustration) based on the available estimates of consumption distribution for the year (2004-05) for India. Chandra (2010) evaluates the performance of Indian economy in the neo-liberal regime in terms of its performance in external sector i.e. current account and capital account balance. Further, he evaluates the trends in government spending on social expenditure, education, social security and employment guarantee scheme. The author argues that there has not been much increase in expenditure on education and social security and that the weak credit facilities have been sold to priority sectors such as agriculture and small scale industries is an impediment to the inclusive growth. Thus, author concludes that inclusive growth slogan is merely a façade as no substantial measures in that direction were initiated. In Dreze and Sen (2013), they asserted that, while India had shown unprecedented growth performance in the 1990s that did not