Keeping in mind the size and population of India, we call India India as a deprived country. To reduce unemployment and consequently the incidence of poverty, special programs like Jawahar Rozgar Yojana were initiated in addition to the already existing Programs. Many hope that a closer collaboration among these two colossus may lead the rest of the world to break the negative trend of the worldwide economy. Moreover, the degradation of environment, accelerated by increased poverty level, is a threat to economic development. We have to recognise human capabilities as instruments for economic and social performance.
Related to issue of poverty is the question of unemployment which exists on a large scale in developing countries, especially in labour-surplus countries such as ours. Various structural adjustment policies were introduced gradually so that the economy could be pushed to higher growth path and to improve its strength to enable it to prevent the balance of payment and inflation crisis in future. Hence, the need was felt acutely to direct the development programmes towards the backward regions and towards the weaker section of the society. Thus, due to the failure of traditional strategies of development in solving the problems of poverty, unemployment and inequality, it was realised in the seventies that the concept of development should be broadened so that it should signify that well-being of the people has increased. This is because population growth can contribute to increased unemployment, poverty level and environmental issues such as pollution with its associated health costs.
The Eighth Plan took note of some of these policy changes which were to come about due to these reforms. After independence most Indian leadership had been trained in England by socialists. The Plan has laid down a list of reforms in this connection. Policy makers can address these serious economic consequences of rapid population growth by investing in family planning services. Many schemes of social welfare, such as elementary education, primary health care, nutrition, water supply and programmes of development for women and children, were launched. Social institutions, habits and attitudes are influencing the productive activities and expenditure patterns substantially, especially in the underdeveloped countries.
In terms of national income per capita, China with 14. The government does not intervene in the economy. Due to overall favorable weather conditions, implementation of various thrust programs and with concerted efforts of the government and the farmers, food production during the Seventh Plan grew by 3. This is a major factor behind the low enrolment rates. Thus, the interpersonal and international consumption functions are interrelated and not independent. The traditional view has been to interpret it in terms of planned changes in the structure of national product and the occupational pattern of labour force and also the institutional and technological changes that bring about such changes or accompany such changes. The Indian economy is diverse and embraces a huge area including agriculture, mining, textile industry, manufacturer and a vast area of other services.
This has led to increased poverty level because once some resources have depleted, they are hard to renew. Ferreira Nora Lustig The demographic transition-a change from high to low rates of mortality and fertility-has been more dramatic in East Asia during the twentieth century than in any other region or historical period. So goes the modern adage. However, shortfall in expenditure in the Central sector due to inadequate mobilization of internal and extra budgetary resources by the Public Sector Undertakings and various departments was witnessed. Another issue that arises from increased population growth is poverty. Their level of per capita income is too low. Its main aims were: i an increase of 25% in national income, ii rapid industrialization with particular emphasis on the development of basic and heavy industries, iii large expansion of employment opportunities, iv reduction of inequalities in income and wealth and a more even distribution of economic power, and v increasing the rate of investment from 7% of the National income I to 11 % by 1960-61 the plan laid special stress on industrialization, increased production of iron and steel, heavy chemicals, including nitrogenous fertilizers and development of heavy engineering and machine-building industry.
The government is unable to attain economic development because of enlarged poverty level. Planning in India derives its objectives and social premise from the Directive Principles of State Policy. Third Five-Year Plan 1961-66 : It emphasized on securing self-sustained growth. The Eighth Plan aimed at an annual growth rate of 5. As a result of more than five decades of planned development, per capita income, literacy rate, life expectancy rate rose immensely, while India achieved self-sufficiency in the field of food grains production, and made great strides in the field of science and technology. Its main aims were: i an increase of 25% in national income, ii rapid industrialization with particular emphasis on the development of basic and heavy industries, iii large expansion of employment opportunities, iv reduction of inequalities in income and wealth and a more even distribution of economic power, and v increasing the rate of investment from 7% of the National income I to 11 % by 1960-61 the plan laid special stress on industrialization, increased production of iron and steel, heavy chemicals, including nitrogenous fertilizers and development of heavy engineering and machine-building industry. Even with a stationary population, the country will thus require years of capital accumulation for it to attain a civilized standard.
How a new entrant to the labor force decides whether to work in a private firm or a government office. Another feature of this Plan was the recognition that Governance is perhaps one of the most important factors for ensuring that the Plan is realized, as envisaged. To reduce unemployment and consequently the incidence of poverty, special programs like Jawahar Rozgar Yojana were initiated in addition to the already existing Programs. It has increased due to improvements in irrigation, modern agricultural practices, and technological advancements. Evolution of Economic Development: The study of development economics as a separate discipline is relatively new as about 65 years ago in 1950s the study of the problem of economic development of poor developing countries did not constitute an important distinct branch of economics. These reforms were made in the nationalised banks as well as in the insurance sectors, private and foreign concerns. Population is one of the major issues that will impact the economic development of India.
This is an example of market failure and calls for optimal correction through grants and subsidies. Tenth Five-Year Plan The Tenth Five-Year Plan 2002-07 was approved by the National Development Council on 21st December 2002. In order to reduce the high rate of growth of population, the birth rate must be reduced. Naturally, in the initial period, it is not possible to step up the rate of capital formation at the required rate by domestic savings alone. This is especially the youths who move from rural areas to avoid agricultural activities. In contrast, education and health costs are enormous burdens for the poor. Against this, the achievement in the growth-rate on an average was to be 5.
The Sixth Plan's actual expenditure stood at Rs. Tenth Five-Year Plan The Tenth Five-Year Plan 2002-07 was approved by the National Development Council on 21st December 2002. This contributes to economic problems, thus, making a country to lag behind. The first government, led by Pandit Jawaharlal Nehru, accepted the socialistic pattern of society as its goal to modernize India. It is the need of the hour to bridge the gap of socio-economic inequalities so that the benefits of economic achievements reach all sections of our society. There is profit motive that drives the organisers of these factors of production which is owned by the government in socialist economy. Determine whether each topic deals under the area of microeconomics or macroeconomics.
It is a continuous process; short progress in development has to be short, accompanied and followed by progress in short; economic words are to fulfill our declared objectives of a self accelerating process growth economic development. Inflation was to submit to stabilisation programmes. Goods are produced as per the needs of the citizens. Average annual compound growth rate envisaged was 5. First, we know and then we imitate. Planning in India was started with great zeal in 1951 after laying the foundations for varied economic activity and after solving the immediate problems of the partition and rehabilitation.