Introduction The structure of India’s present day when India was under British rule, economy has its roots steeped In history, particularly in the period The sole purpose of the British colonial rule in India was to reduce the economy for Great` Britain’s country to being a feeder Britain’s own rapidly expanding modern industrial base. An understanding of the exploitative nature of this relationship is essential for any assessment kind and level of development which the Indian economy of the decades.……………. READ MORE
NTRODUCTION The leaders of independent India had to decide, among other things, the type of economic system most suitable for our nation, a system which would promote the welfare of all rather than a few. Nehru, and many other leaders and thinkers of the newly independent India, sought an alternative to the extreme versions of capitalism and socialism. The ‘Industrial Policy Resolution’ of 1948 and the Directive Principles of the Indian Constitution reflected this outlook. In 1950, the Planning Commission was set up with the Prime Minister as its Chairperson. The era of five year plans had begun..……………. READ MORE
LIBERALIZATION Liberalization means removal of entry and growth restriction on the private sector. Liberalization involves deregulation and reduction of government controls and greater autonomy (freedom) of private investment, to make economy more competitive. Under this process, business is given free hand and is allowed to run on commercial lines. The purpose of liberalization was :…………….READ MORE
Poverty refers to a state in which an individual is unable to fulfill even the basic necessities of life. Poverty in India has been studied from two points: urban and rural.• In urban areas, poor people include push cart vendors, street cobblers, rag pickers, beggars etc… #they possess few assets. # They reside in kutcha hutments with walls made of baked mud and roofs made of grass, thatch, bamboo and wood. # The poorest of them do not even have such dwellings. # The urban poor are largely the overflow of the rural poor who had migrated to urban was in search of alternative employment and livelihood. ……………..READ MORE
Physical capital: it includes all those inputs which are required for further productio like plant and machinery, factory, buildings, raw materials, etc.. The physical capital is needed to make use of physical resources.
Its accumulation is quite important for economic growth of a country . The ownership of physical capital is the outcome of the conscious decision of the owner. The entrepreneur possesses knowledge to calculate the expected rates of return to a range of investments and then rationally decides which one of the in,,estments should be made.
Human capital: it refers to the stock of skill, ……………..READ MORE
In India, majority of the poor people live in rural areas, where they do not have access to the basic necessities of life. Around 30% of our total population still lives below the poverty line. Agriculture, with maximum share of rural economy, has grown at a meager rate of 2.7% in the last fifty years The share of agriculture sector to GDP was on a decline and there has been increase in the share of industrial and service sector. However, the population dependent agricultural sector did not show any significant change. Moreover, after the economic reforms of 1991, the growth rate of agriculture sector decelerated to 3%, which was lower than the earlier years…………….READ MORE
Worker It refers to an individual who is engaged in some productive activity to earn a living. Types of workers
Workers are broadly classified into 3 categories 1. Self employed It Refers to the workers who are engaged in their own business or enterprises In of worker who own and operate …………….READ MORE