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Explain volume, composition and directions of India’s import trade.
Introduction: India is one of the world’s largest and fastest-growing economies, heavily engaged in global trade. The country imports a wide variety of goods, ranging from raw materials and machinery to consumer products and technology. In present days foreign trade is more important than the internal trade the trade international trade of a country consist…
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Write a note on EXIM Policy.
Introduction: Export import policy are better known as EXIM policy is a set of guidelines and instructions related to the import and export of goods. The Government of Indian notifies the EXIM policy for a period of 5 years 1997 to 2002 under section 5 of the foreign trade development and regulations act 1992. The…
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Explain the Monetary policy of R.B.I (A Review)
Introduction: Monitory policy of R.B.I refers to the policy of the central bank with regards to the use of monetary instruments. Under its control to achieve the goals which is specified. This policy formulated by the central bank RBI and relates to the monetary matters of the country. The monitory policy committee met on Feb…
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Explain the classification of industries.
Introduction: Industrialization is a process of manufacturing consumer goods and capital goods and of building infrastructure in order to provide goods and services to both individuals and business. . It helps to increase the share of industrial sector in the national product and labor force in the economy. It transforms the entire economic structure of…
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Explain the Critical minimum efforts thesis.
Introduction: The Critical Minimum Effort Thesis, proposed by economist Harvey Leibenstein in the 1950s, it is a development theory similar to the Big Push Theory. It suggests that developing economies require a minimum level of investment and effort to escape the cycle of poverty and stagnation. This theory is known as the “critical minimum effort,”…
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Explain the Big Push theory of Development.
Introduction: Big push theory highlights the need for tremendous efforts for taking the underdeveloped economics out of stagnation and breaking the vicious circle of poverty. The big push theory was propounded by Professor Paul N Rosenstein Rodent for solving the development problems of underdeveloped countries. The main idea is that isolated, small-scale investments are insufficient…
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Explain briefly balanced and unbalanced growth.
Introduction: The concepts of balanced and unbalanced growth are economic policies that guide how resources and investments should be distributed within an economy to stimulate development. They differ primarily in various aspects. Aspect Balanced Growth Unbalanced Growth Approach Simultaneous investment across sectors Focused investment in priority sectors Goal Equal development across sectors Rapid growth through…
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What is Vicious Circle of Poverty? explain the determinants of B.P.L
Introduction: Many development barriers are both of cause and consequence of poverty such circular relationship perpetual the low level of development including capital deficiency and market imperfection as characteristics of poor countries. The circle emphasizes that total output is low and that little remains as surplus for capital accumulation because of the low level of…
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What is economic development? explain its determinants.
Introduction: Economic development refers to a process of expansion which leads to higher level of per capita real income. Economic development is the precondition of growth in fact economic development is a process whereby an economics real national income as well as per capita income increases over a long period of time. Stages of economic development…
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Distinguished between economic growth and economic development.
Introduction: Economic growth and economic development are both terms used in economics to describe progress in a nation’s economy, but they have different meanings and implications. The difference between economic growth and economic development are: Economic Growth: Economic growth refers to an increase in a country’s output of goods and services, typically measured by the…