Editorial 1: Holding Steady
Context: High frequency indicators suggest that economic momentum is sustaining, even as pain points remain
Introduction
- The Indian economy grew at a healthy 7.8 per cent in the first quarter of the ongoing financial year. Going by the high frequency indicators, the economic momentum has continued in the weeks and months thereafter, and may sustain due to the impetus from spending during the festive season.
Looking at the latest reports
- In the latest state of the economy report, economists at the Reserve Bank of India also express optimism, pegging growth at 6.8 per cent in the second quarter, marginally higher than expectations. This is good news.
- The report presents data on a plethora of economic indicators to make its case. These point towards a sustained momentum.
Economic indicators making the case
- The purchasing managers index for manufacturing and services continues to remain in expansionary mode. Sales of automobiles show an uptick, driven by the three-wheeler segment.
- Steel consumption is up almost 18 per cent, while cement production has risen by almost 19 per cent, indicating robust construction activity.
- Residential real estate markets across the country are witnessing a steady growth momentum even as interest rates remain high and property prices surge.
- Toll collections have expanded by a healthy 20 per cent and both air cargo and railway freight have registered high growth. Alongside, the unemployment rate has declined further in both rural and urban areas.
Pain Points: Areas of Concern
- Exports continue to contract, signalling sluggish global demand. There are few signs of a broad-based pick-up in the investment cycle even though the corporate sector is in much better financial shape.
- And while the labour force participation rate has edged upwards, especially for females, there has been a concomitant increase in self-employment, indicating that the economy is perhaps not being able to create enough high-quality jobs for the millions entering the labour force.
- Demand for work under MGNREGA remains higher than last year, and above pre-pandemic levels.
- Some FMCG companies have in fact pointed out in their quarterly results that rural demand remains under pressure, and continues to lag the urban market. Alongside, the sharp rise in household borrowings has also raised concerns.
Conclusion
- Data from the RBI shows that household financial liabilities rose from 3.8 per cent of GDP in 2021-22 to 5.8 per cent in 2022-23. While part of the credit has been used to finance purchase of houses and vehicles, some have argued that this surge in borrowings is also indicative of growing financial distress. In any case, there are limits to debt-fuelled consumption. Any slowdown in credit will have implications for the growth momentum in the wider economy.
Editorial 2: Towards Politics of Presence
Context: After passing, challenge now to ensure promise translates to equality
Introduction
- In September, history was made with Parliament passing the Women’s Reservation Bill, the Nari Shakti Vandan Adhiniyam. A compelling imperative for all political parties to acknowledge the importance of the role of women in an inclusive polity, it is a clarion call to women to recognise their agency, assume equal responsibilities as citizens and define their destinies.
- It is a significant achievement of the women’s movement in the country. The journey for the Bill’s approval in Parliament took 27 years.
The Journey
- The movement for women’s participation as equal stakeholders in the nation’s future predates its Independence.
- The arguments in feminist discourses have been layered, even contradictory at times. These range from Sarojini Naidu’s strong rejection of quotas for women during the Constituent Assembly debates, to Sushma Swaraj’s request, in 2014, to fellow parliamentarians asking them to support this landmark legislation.
Relationship between affirmative action policies — such as the Women’s Reservation Bill — and the political equality of women.
- First, implementing a mandatory quota in line with proportional representation can transition us from the politics of rhetoric to the politics of presence. India is among the few countries that granted full and equal citizenship rights to women at Independence.
- The idea of political equality is integral to the Constitution, making the inclusion of women in politics a moral imperative for the state.
- However, the political sphere has been largely dominated by men and masculinist politics, with women marginalised and treated as beneficiaries. Women are often seen as a “category” in welfare schemes.
- Advocates like Anne Phillips have championed the concept of a “politics of presence”. They argue that women can bring unique skills and political strategies rooted in their life experiences, making them role models for future generations.
- The second argument is that women in India have consistently rejected invisibility and marginalization. During the freedom struggle, women from all walks of life and regions made significant contributions. Their pivotal role in movements like Non-cooperation, Civil Disobedience, Khadi, and Swadeshi under Mahatma Gandhi, are integral to the historical narrative.
‘Towards Equality’ report
- In 1974, the “Towards Equality” report shone the light on gender-based inequalities in various spheres, paving the way for the emergence of movements that took up issues such as violence against women, access to education and employment, the right to abortion, and discrimination against the girl child. These movements were often precursors to groundbreaking pieces of legislation.
Recent measures for Women empowerment
- Recent measures like the extension of property rights to women in tribal communities and the Beti Bachao Beti Padhao initiatives are the outcomes of the efforts of both the government and women’s movements. The 73rd and 74th amendments empowered women at the panchayati raj level, dispelling earlier doubts about their capabilities at local governance.
- Eloquent and erudite speeches by women parliamentarians have often reshaped deliberations, leading to progressive pieces of legislation.
Empowered Women: Contemporary reality
- In contemporary times, women have made significant strides in the education sector, with increasing enrollment in higher education. They are making their presence felt in fields such as aviation, bureaucracy, medicine, space science, arts and literature. They have proved adept in navigating layers of power structures and overcoming vertical and horizontal inequalities. Their aspiration to be a part of the country’s success story is evident in all spheres.
Procedural constraints on the implementation of quota
- While there are procedural constraints – these include delimitation based on the post-2026 census data — for the actual implementation of the quota for women, the Act represents people’s mandate for gender equality in politics. The next step is to seize this historic moment. Training women to join politics should include encouraging them to pursue higher education in subjects such as public policy, political science and law. Established women politicians could become mentors.
Conclusion
- In conclusion, we advocate the theory of reflective autonomy which combines a sense of individuated selves with a commitment to a shared set of values. This idea is based on three “E” s – engagement, emancipation, and empathy.