The principal function of planning, especially in a federal system, is to evolve a shared vision of and commitment to the national objectives and development strategy not only in the government at all levels, but also among all other economic Read More …
Category: Economy
Planning Strategy : Objectives and strategy of Indian Five Year Plans
First Plan (1951 – 56) Target Growth : 2.1 % Actual Growth 3.6 % It was based on Harrod-Domar Model. Influx of refugees, severe food shortage & mounting inflation confronted the country at the onset of the first five year Read More …
Decentralized Planning : Meaning and importance; and decentralised planning; major initiatives in India
Decentralized Planning is a type of planning where local organisations and institutions formulate, adopt, execute actions and supervise the plan without interference by the central body. Decentralized planning in the State operated mainly through the following institutions and instruments; Grama Read More …
Food and Nutritional Security : Trends In Food production and consumption in India
India is the third largest producer of cereals, with only China and the USA ahead of it. India occupies the first position in milk production and is the third largest producer of fish and second largest producer of inland fisheries Read More …
Development status and Issues pertaining to socially and economically marginalised sections, like STs, SCs, religious minorities,backward castes and women; schemes launched for their development by Central/State Governments, including TSP, SC,ST and minorities
The founding fathers of our Constitution desired to secure justice, social, economic and political for all citizens. They realized that the inequitable forces embedded in the socio-economic system and also political organizations, had resulted in deprivation and disadvantages for the Read More …
International financial institutions IMF, World Bank. WTO, their role and impact on Indian economy
The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an international financial institution whose purposes include assisting the development of its member nation’s territories, promoting and supplementing private foreign investment and promoting long-range Read More …
Human Poverty Index (HPI), Multi Dimensional Indian poverty index.
Human Poverty Index (HPI) The Human Poverty Index (HPI) was first introduced into the Human Development Report by the United Nations Development Programme (UNDP) in 1997 in an attempt to bring together in a composite index the different features of Read More …
Poverty and Unemployment:Measurements and trends; identification of BPL families,
The World Bank defines poverty in absolute terms. The bank defines extreme poverty as living on less than US$1.90 per day> (PPP), and moderate poverty as less than $3.10 a day. Types of Poverty Absolute poverty measures poverty in relation Read More …
Economic, social and environmental sustainability; concept of Green GDP; Strategy and policy for sustainable development in India
Economic, social and environmental sustainability The United Nations General Assembly adopted the 2030 Agenda for Sustainable Development and 17 Sustainable Development Goals (SDGs) as a universal and transformative development strategy. The 2030 Agenda commits the global community to “achieving sustainable Read More …
Meaning of Inclusive growth and development policy and strategy during 11th and 12th Five Year Plans.
Inclusive Growth is economic growth that creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non-monetary terms, fairly across society.Indian Plans after the independence were based on the downward infiltration Read More …
Characteristics of Under Development
The term underdevelopment refers to that state of an economy where levels of living of masses are extremely low due to very low levels of per capita income resulting from low levels of productivity and high growth rates of population. Read More …
Indicators of development: HDI,India’s HDI progress
Human development is a process of enlarging people’s choices. The most critical ones are to lead a long and healthy life, to be educated and to enjoy a decent standard of living. Additional choices include political freedom, guaranteed human rights Read More …
Governmental policies for food and nutritional security
According to the 1996 World Food Summit, food security exists “when every person has physical and economic access at all times to healthy and nutritious food in sufficient quantity to cover the needs of their daily ration and food preferences, Read More …
Problems and issues of storage,procurement distribution,import and export: Government policies,schemes and programmes such as, PDS, ICDS and Mid-day Meal etc.
WHO Defines Food security to exists when all people, at all times, have physical, social and economic access to sufficient, safe and nutritious food which meets their dietary needs and food preferences for an active and healthy life. Food security has three interlinked Read More …
Financial inclusion
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Government of India has Read More …
New economic Reforms-Liberalization, Privatization and Globalization, rationale and need for reforms
Impacts of Privatization Privatization in generic terms refers to the process of transfer of ownership, can be of both permanent or long term lease in nature, of a once upon a time state-owned or public owned property to individuals or groups Read More …
Meaning and Measurement of Economic Development
Economic Growth Economic growth means an increase in real GDP. This increase in real GDP means there is an increase in the value of national output / national expenditure. Economic growth is an important macro-economic objective because it enables increased Read More …
Globalization of Indian economy ; its positive and negative impacts on different sectors, issues of FDI and FII in India.
Globalization essentially means integration of the national economy with the world economy. It implies a free flow of information, ideas, technology, goods and services, capital and even people across different countries and societies. It increases connectivity between different markets in Read More …
Structure of Indian monetary and banking system in India
Indian Money Market and Banking system is regulated by Reserve Bank of India.The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Main Functions of RBI Read More …
concept of VAT
VAT is a multi-stage tax levied at each stage of the value addition chain, with a provision to allow input tax credit (ITC) on tax paid at an earlier stage, which can be appropriated against the VAT liability on subsequent Read More …
Composition and direction of India’s trade; Balance of payment problem
Balance of Payments is a systematic record of all economic transactions undertaken by residents of one country i.e. households, firms and the government with their counterparts in rest of the world. It consists of: 1. Current Account, 2. Capital Account Read More …
Fiscal Policy : Concept and role of fiscal policy in achieving employment, stability and economic development.
Fiscal policy is that part of Government policy which is concerned with raising revenues through taxation and other means along with deciding on the level and pattern of expenditure it operates through budget. However, generally the expenditure exceeds the revenue Read More …
Public Expenditure : Theories of public expenditure; causes of growth of public expenditure and its impact on economy; internal and external borrowings.
Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private Read More …
Public Revenue-Principles and types of taxation; direct, indirect, progressive and proportional
India has a well developed taxation structure. The tax system in India is mainly a three tier system which is based between the Central, State Governments and the local government organizations. In most cases, these local bodies include the local Read More …
Industrial Economy: Policy Initiative & charges
The Indian Government had undertaken industrial policy reforms since 1980, but the most radical reforms have occurred since 1991, after the severe economic crisis in fiscal year 1990-91. These reforms mainly aimed at enhancing the efficiency and international competitiveness in Read More …
Ever Green Revolution and Rainbow revolution
Evergreen Revolution was a term coined by M.S. Swaminathan to indicate the development of technologies that can help in increasing productivity in perpetuity without causing an associated ecological harm.He also stated that to achieve the goal of food security by ending Read More …
WTO and agriculture
The World Trade Organization came into being in 1995 as the successor organization to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. It is a multilateral framework (an agreement among governments) Read More …
Pricing of agricultural inputs and outputs.
Agricultural prices cover prices of agricultural products (output prices) and prices of requisites for agricultural production (input prices) at various stages of marketing. The structure of Indian agricultural marketing system consists of: Agricultural Co-operative Marketing Societies; Regulated Markets; Public Trading and Read More …