TODAYs ANSWER WRITING CHALLENGE FROM GS-IV
Q1. Discuss the positive correlation between economic development of a country with the level of ethics in governance system. [10marks] 150 words.
Please write answer in the comments section.
1. Economic growth is the most important means of raising people’s incomes and reducing poverty in the developing world – it creates jobs and opportunities for poor people to support their families and build more stable futures.
2. Many developing countries face particular challenges that make it difficult for them to stimulate and sustain economic growth. These challenges include weak institutions, high unemployment, poor infrastructure, a lack of access to financial services and unsuitable laws and regulations.
3. This exists for a few reasons. First of all, if a small, corrupt nation is run by a dictatorial regime, one that extracts much of the country’s wealth for personal gain, the private sector will be weak and unemployment will be high. Secondly, this type of environment is also unattractive to multinational corporations looking to expand. It’s also not conducive for local
business development. Hence, the result is a dual-class citizenry (i.e.; the “haves” and the “have-nots”).
4. The lack of ethical governance also leads to slow human resource development as most of the steps for increment in education, health failed to show results due to poor implementation scenario.
5. Even in terms of gender disparity and discrimination lack of ethical governance aggravate the situation.