Subject: Economy

Answer:

The pursuit of equitable development across generations and within the same generation remains a critical challenge for sustainable and inclusive growth. The concepts of intragenerational equity (fairness within the present generation) and intergenerational equity (fairness between present and future generations) are fundamental to addressing developmental disparities and ensuring long-term sustainability.

Intragenerational Equity Issues

Economic Disparities:

• India's Gini coefficient of 0.410 (2023) indicates significant income inequality within the current generation.
• Regional imbalances in development, with stark urban-rural divide in access to healthcare, education, and employment opportunities.
• Financial inclusion gaps affecting marginalized communities' access to formal banking and credit facilities.

Social Dimensions:

• Unequal access to quality education and skill development programs hampering social mobility.
• Gender-based disparities in workforce participation and wage discrimination.
• Differential access to basic amenities like clean water, sanitation, and healthcare facilities.

Intergenerational Equity Issues

Environmental Sustainability:

• Excessive exploitation of natural resources by current generation compromising future generations' needs.
• Climate change impacts disproportionately affecting vulnerable populations, particularly rural women and marginalized communities.
• Rising environmental degradation threatening food security and agricultural sustainability.

Economic Sustainability:

• Mounting public debt burden being transferred to future generations.
• Depletion of non-renewable resources affecting future energy security.
• Need for sustainable infrastructure development balancing present needs with future requirements.

Way Forward

Policy Interventions:

• Implementation of inclusive growth strategies through targeted interventions like PMJDY and MGNREGA.
• Strengthening social security measures and pension systems for intergenerational support.
• Investment in renewable energy and sustainable technologies for future generations.

The path to equitable development requires balancing the immediate needs of the present generation while ensuring sustainable resource utilization for future generations. SDG 10 (Reduced Inequalities) and SDG 13 (Climate Action) provide a framework for addressing these equity concerns through integrated policy approaches and inclusive growth strategies.