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Economy

Care Economy and Tourism Sector Reforms Highlighted as Pillars for Developed India

Livemint - EconomyPrelims · EconomyMains · GS3 Economy

PM Modi emphasized healthcare, education, and tourism as foundational sectors for India's economic growth, with specific focus on expanding the care economy and leveraging tourism for job creation.

  • Care Economy: PM Modi highlighted the care economy, which includes healthcare, elderly care, and childcare, as a sunrise sector with potential to employ 60 million by 2030, generating $300 billion in market value.
  • Budget FY27: The Union budget proposed training for 150,000 caregivers to strengthen healthcare and social support systems, aligning with the care economy's growth.
  • New Education Policy (NEP): Modi linked education reforms under NEP to job market demands, emphasizing AI, automation, and digital economy to modernize the curriculum.

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