Revision: Indian Economic Development >> Current Challenges Facing Indian Economy Economics Commerce (English Medium) Class 11 CBSE

Sustainable development is the development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs.

Sustainable development means a development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

• “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs” - World Commission on Environment and Development, 1987
• “The alternative approach (to sustainable development) is to focus on natural capital assets and suggest that they should not decline through time.” - Pearce, Markandya and Barbier, 1989-

• Rural credit helps farmers buy inputs and improve agriculture.
• Banks, co-operatives, RRBs, SHGs, and NABARD provide rural credit.
• SHGs and micro-credit reduce dependence on moneylenders and support financial inclusion.
• Many small and marginal farmers still lack access to formal credit.
• Jan-Dhan Yojana expanded banking access and enabled direct benefit transfers.
• Better rural marketing is needed to ensure farmers get fair prices for their produce.

• Diversification reduces risk by moving from agriculture alone to allied and non-farm sectors.
• Animal husbandry, fisheries and horticulture are key sources of supplementary income and employment.
• Women play an increasing role in non-farm activities, cooperatives and value-adding processes.
• Information technology and schemes like SAGY support sustainable rural development and better livelihoods.

• Education spending has increased but is still below the 6% of GDP target.
• Government expenditure on education has risen over time.
• More investment is needed at all levels of education.
• States differ widely in their spending on education.
• The Right to Education (RTE) Act, 2009 ensures free and compulsory education for children aged 6–14.
• School dropouts and child labour reduce human capital formation.

• Economic development leads to a shift of workforce from primary to secondary and service sectors.
• Primary sector remains the largest employer in India, especially in rural areas.
• Urban employment is dominated by the service sector (~60%).
• Female workers are disproportionately concentrated in the primary sector.
• Rural-urban and male-female disparities are clearly visible in employment distribution.

• Unemployment refers to persons in the 15–59 years age group who are able and willing to work at the prevailing wage but cannot find employment.
• Children, elderly persons and those unwilling to work are not counted as unemployed.
• Major types of unemployment are open, seasonal, disguised, educated and underemployment.
• Rural unemployment is mainly seasonal and disguised, while urban unemployment is mainly educated and open unemployment.
• Major causes include population growth, inadequate skills, seasonal employment, technological changes, economic fluctuations and mismatch between demand and supply of labour.
• Unemployment leads to wastage of human resources, poverty, educational stagnation, mental stress, anti-social activities and slow national development.

• Sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs.
• It balances economic growth, social well-being and environmental protection.
• It is based on inter-generational equity and meeting the basic needs of all, especially the poor.
• The Brundtland Commission (1987) gave the most widely accepted definition.
• Lester Brown, Edward Barbier and Herman Daly made important contributions to the concept.
• The 17 Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 provide a global framework for achieving sustainable development by 2030.