Read Chapters: Introduction, National Income Accounting, Money and Banking, Income Determination, The Government Budget and the Economy, Open Economy Macroeconomics, Glossary, Data Tables,
After studying this chapter, the learners will figure out comparative trends in various economic and human development indicators of India and its neighbours, China and Pakistan assess the strategies that these countries have adopted to reach their present state of development.
Economic development can be measured and income is the most common method for measuring development. However, the income method, though useful, has several weaknesses. Hence, we need newer ways of looking at development using indicators of quality of life and environmental sustainability.
In economic policies, Statistics plays a vital role in decision making. For example, in the present time of rising global oil prices, it might be necessary to decide how much oil India should import in 2025.
The central government must ensure inter-generational equity and long-term macro-economic stability by achieving sufficient revenue surplus, removing fiscal obstacles to monetary policy and effective debt management by limiting deficits and borrowing. The rules under the Act were notified with effect from July, 2004. Main Features 1.
The economic policies pursued by the colonial government in India were concerned more with the protection and promotion of the economic interests of their home country than with the development of the Indian economy.
Do you know that India has got the right to mine manganese nodules from the bed of the Indian Ocean from that area which lies beyond the exclusive economic zone. Identify some other resources which are international in nature. On the Basis of the Status of Development Potential Resources: Resources which are found in a region, but have not been utilised. For example, the western parts of India ...