Indian Economy 1950 – 1990

Indian Economy 1950 – 1990      Indian Economy 1950 – 1990           Economic System refers to an organised way in which a state or nation allocates its resources and apportions goods and services to the national community. Different types of Economic System   Capitalism Socialism Mixed   Questions that every Economy has to answer   What to produce How to produce For whom to produce   Planning Commission   Set up – 1950. Chairman – Prime Minister. Architect – Mahalanobis. First five year plan was started in 1951. Eleventh five year…

Read More

Rural Development

Rural Development     Rural development focuses on action for the development of areas that are lagging behind in the overall development of the village economy.   Theypossess few assets. Theyreside in kutcha hutments. Manydo not get to have even two meals a day. Starvation,hunger, malnutrition and ill health Lackbasic literacy and skills Unstableemployment   Credit and Marketing in Rural Areas  Rural banking: A critical appraisal   Achievements Increasein both farm and non-farm incomes, output and employment Increasein agricultural production   Chapter – 6 Rural Development Limitations Highlevel of overdue by the farmers Highloan defaults Agricultural Market System Agricultural Marketing is the process of assembling, storage, processing, transportation, packaging, grading and distribution of agricultural commodities across the country.     Defects in Agricultural Marketing prior to Independence   Malpracticesin markets like manipulations of weights and measures Lackof market information regarding past and current prices Inadequatestorage capacity Largenumber of middlemen Lackof standardization and grading     Measures to Overcome Defects   Regulationof markets Provisionof physical infrastructure facilities Promotionof cooperative marketing Useof policy instruments by government like MSP, maintenance of buffer stock and distribution of food grains and sugar through PDS.     Diversification into Productive Activities     Diversificationof crop production.   Chapter – 6 Rural Development   Shiftof the workforce from agriculture to other allied activities like live stock, poultry, fisheries etc.   Information Technology (IT) is fast emerging as a viable alternative livelihood option.   Organic Farming refers to the system of farming that restores, maintains and enhances ecological balance. The environmental pollution caused y conventional agriculture   Perfect Competition Introduction to Statistics Indian Economy on the Eve of Independence Development Global Supply Chain Case study Poverty as a Challenge Consumer Rights Introduction to Statistics…

Read More

Liberalisation, Privatisation and Globalisation : An Appraisal

Liberalisation, Privatisation and Globalisation : An Appraisal Liberalisation, Privatisation and Globalisation : An Appraisal                                                                                          Regulations for Industries before New Economic Policy   Licencing Private sector was not allowed in many industries. Price fixation for selected industrial products.   New Economic policy   Creating more competent environment. Includes stabilisation measures and structural reform measures. Initiation of Liberalisation, Privatisation and Globalisation.   Measures introduced in Liberalisation   Measures introduced in Privatisation   Government companies can be converted into Private companies with certain conditions. Given the autonomy to PSU’s to take…

Read More