Q.1 Explain Intra-generational and Inter-generational issues of equity from the perspective of inclusive growth and sustainable development.(UPSC CSE-2020)(150 words,10-marks)

The OECD defines inclusive growth as economic growth that creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non- monetary terms, fairly across society.

The term “sustainable development” could be described as a process for meeting human development goals while sustaining the ability of natural systems to continue to provide the natural resources and ecosystem services so that our future generation can have a healthy life.

Intra-generational and inter-generational issues:

Inter generational (between the present and future people) and intra-generational (between the rich and the poor of the present generation) equity is to be reached through attaining inclusive growth and sustainable development. However, the Indian scenario poses several challenges in this regard.

Intra-generational issues

• It signifies the rights and interests of the present and future generation regarding the renewable and non-renewable resources of earth.
• The pace at which the present generation is amplifying Climate change would hardly leave anything sustainable for the generations to come.
• The non-renewable energy resources too are in question for adequate availability for the times to come.
• The question of sustainable development remains in ambiguity as the present generation is destroying precious resources like forests which take years to reappear. For example, the unprecedented destruction of the Amazon rain forests.
• Further the population explosion experienced in present times will only attenuate the prospects of inclusive growth in future. For example, in the case of developing nations like India, inclusive growth even in present generation is work in progress which will only get more challenging in the years to come.

Inter-generational issues

• It deals with the equality among the same generations as far as the utilization of resources are concern. It includes fair utilization of global resources among the human beings of the present generation
• High Net Worth Individuals (HNWIs) own 48% of India’s wealth (world average is 36%) – Global Wealth Migration Review 2019. This stat shows the vast income inequality the consequent inter- generational gab in inclusiveness and sustainable growth.
• Even after Welfare schemes like subsidies, reservations, etc., India has failed to achieve acceptable standards of inclusive growth which reflects in its dismal performance in social indicators globally (Gender Equality Index: India in 2021 has slipped 28 places and has been ranked 140th among 156 nations participating  in  the  rankings.  India ranked 139 out of 149 countries in UN’s World Happiness Report 2021).
• The concept of pro-market reforms has failed to trickle-down and resulted in the jobless growth & increasing inequalities (as reflected from the Oxfam Report).

One of the primary objects of the concept of inter generational equity is the development of resources by one generation enhance the opportunity of economic sustainability for the future generation. It tries to construct a balance of consumption of resources by existing societies and the future generations.

Only a fine mix of both intra-generational and inter-generational equity could reflect inclusive growth and sustainable development for India.

Conclusion: Considering that India is struggling to amplify its social indices, the government policies must reflect character to touch upon inequalities at the grassroots. The faster we attain intra- generational and inter-generational equity, the faster we will reach acceptable standards of inclusive growth and sustainable development.