PAPER-IV GS-III: Technology, Economic Development, Biodiversity, Environment, Security and Disaster Management

Indian Economy (issues re: planning, mobilisation of resources, growth, development, employment); Inclusive growth and issues therein)

In News: India needs to develop a care ecosystem 

The development of a care economy is critical for the balanced development of Indian society. Do you agree with this view? Justify your answer.

The care economy landscape includes a range of services including childcare, elderly care, long term care for highly dependent adults, domestic work, and early childhood learning. 

Need for the development of care economy:

1. To overcome barriers to female economic empowerment

• the double burden of balancing paid work and unpaid care work responsibilities.
• high cost of child and elderly care
• insufficient social and public infrastructure together act as a significant barrier to female economic empowerment.

2. To bridge gender gaps in women’s labour force participation.

• The burden of invisibility and undervaluation of care work  creates economic inefficiencies and affects women’s participation in the workforce, limiting their socio-economic development.

3. To unlock a new economic segment for emerging economies, creating increased economic output and jobs in the care work services sector.

• There is an increasing demand for external support in the form of hired caregivers is rising in urban and peri-urban areas.

Suggestive measures for the balanced development of Indian society:

1. Increase investments in the establishment of affordable, and accessible childcare institutions, particularly creches, located near workplaces and work sites.
2. Formulation of guidelines to set minimum service and infrastructure standards for childcare centres.
3. Growing elderly population will require a range of professional care services. Encouraging corporate social responsibility funders to expand elder care centres and offer home care services for elders
4. Skill training for care workers to equip individuals with the necessary skills.Introduce incentive mechanisms for private sector skill training institutes to introduce training modules for care services.
5. Support for parental leave policies: Financial support to MSMEs and Start-Ups for covering costs of maternity and paternity leave. It not only ensures a balance between employment and caregiving responsibilities for both men and women but also men to take up to participate in care responsibilities.

Affordable and quality caregiving is not only fundamental to India’s nation-building but is also the key to unleashing the full potential of human capital that Indian women possess. 

Source:https://www.thehindu.com/opinion/op-ed/india-needs-to-develop-a-care-ecosystem/article68572717.ece;

https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/mar/doc202435319501.pdf