The Need For Change in Economic distribution system

 Does today's economic system need to be changed as per the present scenarios or should remain unchanged?

According to the World Inequality Report 2024- economic inequality in India is currently at its highest since British rule. The richest 10% of the global population takes home 52% of the global income, whereas the poorest 50% gets only 8.5% of it, hampering our SDG 10 goal.

reasons and concerns"

1. as a mixed economy, India is still facing challenges in job creation in the non-farming sector.
2. although the service sector contributes 55% to GVA FY-2024 but lags behind in job CREATION.
3. In agriculture research where ₹ 1 investment including Education pays off ₹ 13.85 still faces farmers' strikes due to a lack of policy implementations at groundwork.
4. PLFS's latest report is 2024 - a significant proportion of working women in low-paying, hazardous, and informal jobs.

Solutions:

1. A "Socialistic" economic approach is necessary, Policy implementation should be on farms not on paper. ex. monitoring crops and seeds availability as per the soil, water irrigation at the time, and easy access to loan availability without a burden of payoff.
2. Progressive Taxation- TAX collection and Distribution should be demand-driven.
3. skill-based education is the key to prosper rather than a mugging up old age education system.
4. Social Safety Nets- Railways, Roads, and infrastructure should be proper to connect the marginalized sector in terms of affordability, accessibility, and approachability.
5. International Labour Organisation Report- around 83% of youth are still unemployed in India which raises a question on government policy implementations.

way forward-

"jai jawan, jai kisan, jai vigyan" should be the approach on fields through inclusive growth in terms of security at borders and home(proper salary and allowances), land reforms(proper land monitoring with soil-friendly crops), more research and analysis budget allocation to create jobs, wealth, health and environmental stability sustainably.