B Com AEC 1

1. The Role of Women in India’s Economic Growth Story

Questions and Answers:

1. What is the measure of a nation’s progress, according to the text?

   • The measure of a nation’s progress is the way it treats its women.

2. How many women of working age are there in India?

   • There are 432 million women of working age in India.

3. What percentage of women in India are employed in the unorganized sector?

   • 343 million women, or a significant percentage, are employed in the unorganized sector.

4. How much could India’s GDP increase by offering equal opportunities to women, according to McKinsey?

   • India’s GDP could increase by US$ 770 billion by 2025.

5. What is the current contribution of women to India’s GDP?

   • Women currently contribute 18% to India’s GDP.

6. What are some initiatives empowering women in rural India?

   • Programs like the ‘National Rural Livelihood Mission’ and government initiatives such as the ‘Swachh Bharat Mission’ and ‘Mahatma Gandhi National Rural Employment Guarantee Act’ are empowering women.

7. What percentage of startups in India are led by women founders?

   • Only 10% of startups in India are led by women founders.

8. What has caused the gender gap in India to widen by 4.3%?

   • The gender gap has widened due to the economic challenges posed by the pandemic, which led to a decline in women's participation in the formal workforce.

9. What is the 3Rs approach for women’s economic empowerment?

   • The 3Rs approach involves Recognizing, Reducing, and Redistributing unpaid care work done by women.

10. How could investing 2% of India’s GDP in the care economy benefit women?

    • Public investment in the care economy could generate 11 million jobs and improve women’s economic and social welfare, helping them enter formal work.

11. What role does the CII National Committee on Women Empowerment play?

    • The CII National Committee works to strengthen women’s role in the economic sphere and community affairs, focusing on gender equality and preventing sexual harassment at the workplace.

12. What kind of award does CII offer for women’s development initiatives?

    • CII offers the annual CII Woman Exemplar Award for women who have worked towards development in education, literacy, health, and micro-enterprises.

13. What is the key to achieving a peaceful and progressive world, according to the text?

    • Women empowerment with gender equality is key to achieving a more peaceful, progressive, and sustainable world.

14. How does the text suggest closing the gender divide?

    • The gender divide can be closed through equal opportunities and equal representation for women.

Detailed Questions and Answers:

1. What is the significance of how a nation treats its women, according to the text?

   • The text quotes a wise man who states that "the best measure of a nation’s progress is the way it treats its women." This emphasizes that the treatment and empowerment of women are crucial indicators of a nation's overall development, suggesting that societal progress is deeply tied to how well women are respected and supported.

2. What is the current status of women in India’s workforce?

   • Currently, there are 432 million women of working age in India. Out of these, 343 million women are employed in the unorganized sector, reflecting a significant participation of women in the informal workforce. Despite this, their formal participation and contribution to the economy remain limited.

3. What could be the potential economic impact of offering equal opportunities to women in India?

   • According to a report by McKinsey Global Institute, providing equal opportunities to women could boost India's GDP by US$ 770 billion by 2025, highlighting the substantial economic benefits that gender equality could bring.

4. What is the current contribution of women to India's GDP?

   • Women currently contribute only 18% to India's GDP, which suggests that their economic potential is underutilized and that there is significant room for growth if women had equal opportunities in the economy.

5. What are some ways women in rural India have been empowered despite challenges?

   • In rural India, women have achieved significant milestones, often overcoming social and familial exclusion. Programs like the ‘National Rural Livelihood Mission’ provide leadership opportunities, and the panchayat system offers 50% reservation for women. Additionally, government initiatives like the ‘Swachh Bharat Mission’ and the ‘Mahatma Gandhi National Rural Employment Guarantee Act’ have enabled women to take up supervisory roles, further supporting their economic participation.

6. How does India rank globally in terms of startups and unicorns, and what is the representation of women in these sectors?

   • India is the third-largest startup ecosystem in the world and also ranks third in terms of the number of unicorns. However, women founders lead only 10% of these startups, indicating a significant gender gap in the entrepreneurial landscape.

7. What challenges have the pandemic posed to women’s economic participation in India?

   • The pandemic has caused India's gender gap to widen by 4.3%, primarily due to declining economic opportunities for women. This has led to a reduction in women’s participation in the formal workforce. Additionally, the aftereffects of the pandemic have affected the informal labor market, and the burden of unpaid tasks has limited women’s ability to pursue higher education or skill development, hindering their entrepreneurial growth.

8. What is the 3Rs approach, and how does it relate to women’s economic empowerment?

   • The 3Rs approach involves Recognizing, Reducing, and Redistributing the unpaid care work performed by women. This approach suggests that policymakers should acknowledge the extensive unpaid labor women contribute, reduce the burden of such tasks, and redistribute this work to create more opportunities for women in the formal economy. It advocates for investing in public-sector care infrastructure to create job opportunities and improve women’s overall economic and social welfare.

9. How could public investment in the care economy benefit women’s participation in the workforce?

   • A public investment of just 2% of India’s GDP in the care economy could generate 11 million jobs and significantly improve women’s economic and social welfare. By recognizing care work as an investment, women would be better supported to join the formal workforce, thereby reducing their economic and social disadvantages.

10. What policies are needed to enhance women’s entrepreneurship in India?

    • To foster women’s entrepreneurship, it is crucial to implement women-centric and women-friendly policies. These should focus on providing easier access to financial institutions, offering tax incentives, and removing barriers that women face when starting and growing businesses. Supporting women entrepreneurs both mentally and financially is essential for their success.

11. What role does the CII National Committee on Women Empowerment play in supporting women’s economic participation?

    • The CII National Committee on Women Empowerment works with industries to strengthen women’s participation in both economic and community spheres. The committee focuses on promoting gender equality, preventing sexual harassment at the workplace, and empowering women at the community level. It also organizes conferences, seminars, workshops, and gender sensitization programs to encourage a more inclusive environment.

12. What is the CII Woman Exemplar Award, and how does it contribute to women’s empowerment?

    • The CII Woman Exemplar Award is an annual award given to women who have contributed significantly to development initiatives in areas such as education, literacy, health, and micro-enterprises. This award highlights the achievements of women in leadership roles and serves as an inspiration for others to take on similar challenges.

13. How does women empowerment contribute to a more peaceful and progressive world?

    • Women empowerment with gender equality is viewed as a fundamental human right and a key factor in achieving a more peaceful, progressive, and sustainable world. Closing the gender divide through equal opportunities and representation for women is seen as essential for creating a fair and just society, which benefits everyone.

14. What is the role of equal opportunities and equal representation in closing the gender divide?

Equal opportunities and equal representation are essential for closing the gender divide. When women are given the same chances as men to participate in all spheres of life—whether in education, the workforce, or leadership positions—the gender gap gradually narrows, leading to a more equitable and harmonious society. 

2. WILL INDIA’S POPULATION MILESTONE PRECIPITATE AN ECONOMIC MIRACLE?

Detailed Questions and Answers:

1. What milestone has India recently achieved in terms of population, and what is its significance?

   • According to UNFPA estimates, India’s population has reached 142.86 crore, surpassing China’s population of 142.57 crore, making India the most populous country in the world. This milestone signifies India’s demographic position as the global leader in population, with potential implications for its economy and workforce.

2. What is the demographic composition of India’s population?

   • As of mid-2023, 68% of India’s population falls in the working-age group of 15 to 64 years. Additionally, 25% of the population is under the age group of 0-14 years, 18% between 10-19 years, 26% between 10-24 years, and 7% are aged 65 years and above. This shows a youthful population, which can be an advantage for economic growth if utilized effectively.

3. How does India’s population growth compare to China’s future projections?

   • India’s population is projected to reach 166.8 crore by 2050, surpassing China’s population, which is expected to decline to 131.7 crore. This marks a significant demographic shift, where India’s population will continue to grow while China’s is shrinking due to low birth rates and an aging population.

4. What are the key population-related challenges that India faces?

   • India’s young population is a potential advantage, but it also comes with challenges. These include the need to provide jobs for the 12 million people entering the job market every year, addressing unemployment, and ensuring sufficient resources in education, healthcare, and skill development. Additionally, India's population is predominantly rural, unlike China, where the urban population is rapidly growing.

5. What is India’s unemployment rate, and how does it relate to the growing population?

   • India’s unemployment rate increased to 7.8% in March, reflecting a challenge in creating enough jobs for the growing working-age population. As millions of new workers enter the labor market every year, the country faces pressure to sustain job creation and prevent unemployment from rising further.

6. What is India’s demographic dividend, and how does it contribute to its economy?

   • India’s demographic dividend refers to its large working-age population, which can be an advantage for economic growth. This young workforce, particularly in comparison to the aging workforces of developed countries, offers lower labor costs and a potential advantage in sectors like business process outsourcing (BPO), where India plays a significant role in serving developed markets like Europe and the United States.

7. How does India’s fertility rate compare historically, and what does it indicate?

   • India’s Total Fertility Rate (TFR) has declined from 2.2 to 2.0, according to the National Family Health Survey (NFHS-5). This decrease indicates a trend toward slower population growth, with potential long-term effects on the labor force and economic dynamics, including reduced pressure on resources and the possibility of an aging population in the future.

8. What is the size of India’s middle class, and how is it different from conventional definitions of middle class in developed countries?

   • A study by PRICE (People Research on India’s Consumer Economy) estimates that India’s middle class constitutes about 31% of the population, or nearly 1 in 3 Indians, with an annual household income between Rs 5-30 lakh. However, using the US benchmark adjusted for Purchasing Power Parity (PPP), the middle class is much smaller—just 3% of the population or 24 million people—indicating a significant difference in income levels compared to developed economies.

9. What are the potential economic advantages and challenges related to India’s large population?

   • India’s large population presents economic opportunities, such as a large labor force and consumer market. However, it also poses significant challenges, including the need to provide education, healthcare, and jobs for millions of new entrants to the workforce each year. The country must create the necessary infrastructure and opportunities to harness the demographic dividend effectively.

10. How is India’s job market expected to evolve, and what are the specific challenges?

    • India faces a major challenge in meeting the demand for jobs as the population continues to grow. With Industry 4.0 technologies transforming the job market, India will need to produce a highly skilled workforce, particularly in digital skills. A report by TeamLease Services estimates that by 2026, India will require 30 million digitally skilled professionals, and up to 50% of the current workforce will need to reskill to stay relevant in the new economy.

11. What does India need to do to address its employment and skill development challenges?

    • To address the growing need for jobs, India must focus on policies related to education, healthcare, and skill development. This includes creating a more inclusive and sustainable job market, expanding access to vocational training, and ensuring that young workers are equipped with the skills necessary for the future economy, especially in digital and tech-driven sectors.

12. How can India capitalize on its population growth in the global context?

    • India can leverage its large and youthful population as a significant asset in the global economy. This includes supplying quality manpower to countries facing a labor deficit, particularly in service sectors like BPO and tech. At the same time, India must continue to innovate in its own economy by enhancing education and job creation to avoid exacerbating unemployment and social inequality.

13. What is the long-term population trend for India, and what challenges could arise?

    • India’s population is projected to peak at 1.7 billion in 2064 before declining to 1.53 billion by 2100. While this peak provides a large workforce in the short term, India must ensure that its resources, infrastructure, and employment opportunities are adequately developed to support such a large population. The challenge will be to balance growth with sustainability in sectors like housing, healthcare, and employment.

14. What is the global population trend, and how does it compare to India’s growth?

    • The global population is expected to reach 8.045 billion by mid-2023. While India is seeing rapid growth, other regions like Africa are projected to experience significant population increases, and countries like Japan and China are facing population declines due to aging demographics and low birth rates. India’s population growth presents both opportunities and challenges in this global context.