Government Policies for Economic Growth and

Development

Presented By
Dr. Sanjay Kumar Mangla
 ECONOMIC GROWTH ECONOMIC DEVELOPMENT SUSTAINABLE DEVELOPMENT

• To meet the needs of the existing

• A sustained increase in real GDP
• Economic development can be
generation without compromising
per capita over time.
measured in terms of welfare
with the quality of the environment
• An increase in the value of goods values and market output.
for future generations.
and services produced in an
• It is a qualitative concept.
• To promote the kind of development
economy over a period of time
• Indicators of economic that minimises environmental
• It is a quantitative concept
development problems.
• Indicators of Economic growth
1) Human Development Index • Pillars for sustainable development
1) Real GDP
2) Physical Quality of Life Index 1) Human Beings
2) Real per capita income
3) Net Economic Welfare (NEW) 2) Environment

3) Development
Economic Economic
Growth Development

Sustainable
Development
An economic policy is a
course of action that is
intended to influence or
control the behavior of the
economy. Economic policies
are typically implemented
and administered by the
government.
 Fiscal Policy Monetary Policy
• Actions Taken by • Actions undertaken by the
government to stabilise the Central bank to control the
economy money supply.

• Includes changes in • Includes changes in interest

government spending and rates/ money supply.
tax rates.
 Components of an Effective Policy
Proper policies are integral to the good governance of any organization.
An effective policy management consists of the following phases and sub phases:

Creation Communication Management Maintenance

Need Publication
Enforcement Review

Ownership Training
Exception
Archival
management
Drafting Attestation

Approval
For Instance:

Some sector
specific
policies
Industrial policy refers to “any type of selective government intervention or policy that attempts to alter the structure of
production in favour of sectors [or activities] that are expected to offer better prospects for economic growth in a way that
would not occur in the absence of such intervention in the market equilibrium”.

• To maintain a sustained growth in productivity;

• To enhance gainful employment;
• To achieve optimal utilisation of human resources;
• To attain international competitiveness
• To transform India into a major partner and player in the global arena.

• Deregulating Indian industry;

• Allowing the industry freedom and flexibility in responding to market forces
• Providing a policy regime that facilitates and fosters growth of Indian industry
• Liberalization of Industrial Licensing Policy.
• ii) Industrial Entrepreneurs’ Memorandum (IEM).
• iii) Policy for Small Scale Industries.
• iv) Non-Resident Indians Scheme
• vi) Policy for Foreign Direct Investment (FDI).
• v) Electronic Hardware Technology Park (EHTP)/Software Technology Park (STP)scheme
• Policies For Small Scale Industries
• Atal Incubation Centre (AIC)
• MSME Business Loans in 59 Minutes
• National Small Industries Corporation Subsidy
• MSME Market Development Program
• MUDRA Loans
• Swarojgar Credit Card
• Coir Udyami Yojana
• Refinancing by NABARD
• The Women Entrepreneurship Platform
• Venture Capital Scheme
• Standup India
A National Employment Policy can be defined as a strategic plan to address and resolve the issue of
unemployment. Major government initiatives to aid employment in India:

• Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)

• Atal Beema Vyakti Kalyan Yojana
• Rajiv Gandhi Shramik Kalyan Yojna (RGSKY)
• The National Rural Employment Guarantee Scheme (MNREGA)
• Aam Admi Bima Yojana
• National Career Service
• Sampoorna Rojgar Yojana
• Aajeevika – National Rural Livelihoods Programme
• Prime Minister’s Employment Generation Programme (PMEGP)