A. Inclusive growth
Inclusive growth is economic growth that is distributed fairly across society and creates opportunities for all. The concept of inclusive growth has become vital to economic development due to rising economic inequality and its effects on human well-being and prosperity.
According to the United Nations Development Program (UNDP), inclusive growth is “the process and the outcome where all groups of people have participated in the organization of growth and have benefited equitably from it”. This implies that inclusive growth should include all sections as beneficiaries as well as partners in growth and that inclusion of the excluded should be embedded in the growth process.
Inclusive growth is also defined in terms of reduction in inequalities in incomes, assets as well as in vertical inequalities (individual inequalities) and horizontal inequalities (group inequalities).
- SDG 10 focuses on ensuring equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard.
OECD defines inclusive growth as economic growth that is distributed fairly across society and creates opportunities for all.