A whole hearted effort should be made to utilise its available limited resources in a most efficient and dynamic manner to its maximum extent. We often hear of complaints of trade handicaps. Agriculture dominates the economy of most of the underdeveloped countries like India as it is contributing the major share of their GDP.
The reforms reduced tariffs and interest rates and ended many public monopolies,allowing automatic acceptance of foreign direct investment in many sectors. It is now time that we awoke to the necessity of putting nation before self and sincerely strove to reverse the process of rot. Let leaders no more mislead the masses.
A proper balance between the private and public sector initiatives is considered very important for evolving such an effective economic organisation. These modes of living in most under-developed countries have had in the past little direct connection with economic development.
Lack of interest of people towards agricultural and industrial sectors lead the situation of unemployment. Our politicians have developed a penchant for organizing big and bigger and still bigger party rallies.
Therefore, in order to attain structural change in the economy, there is the necessity of change in the social structure of its society. The adverse balance accumulates impinging on the total amount of resources generated. Secondly, the production frontier, i.
Hyundai Motors has done well in mid-segment car market in India. Lack of interest in industrial sector: Attainment of economic development necessities a suitable environment for initiating, maintaining and accelerating the pace of economic development.
Most of the companies in India from from the U.
Therefore, another requirement of economic development is to maintain stability by avoiding inflationary rise in the price level so as to check mis-allocation of resources along with its other evils. In order to formulate and implement economic planning along with a specific policy for economic growth, the government must be strong and efficient one, capable of maintaining internal law and order and defending the country against any external aggression.
Thus the underdeveloped countries are suffering from lack of adequate transportation and communication facilities, shortage of power supply, inadequate banking and financial facilities and other social overheads which are considered very important for attaining economic development.
Underdeveloped countries like India are facing serious obstacles due to inadequate infrastructural facilities. Kautilya was a famous economist in the regime of Samrat Ashok,according to him,Private property accumulation is the right of the people and the king government must protect that right according to law.
The Indian economy will definitely feel the pressure of the U. Causes For Economic Crisis In the first place for economic crisis corruption in public life and in administration right from the political boss down to the lowest public servant has been largely responsible for failure of our planning.
These short-term constraints are related to over concentration and stagnation in agricultural sector, unemployment and under-employment, low productivity of capital, the growing deficit in its balance of payment position etc.
These policies are attracting the Multinational companies to invest in this country. In most of the over-populated countries of Asia and Africa, the rate of growth of population varies between 2 to 3 per cent which adversely affects their rate of economic growth and it is considered as the greatest obstacles to their path of economic development.
The common man still finds the going very tough. Some time they are forced to commit suicide due to mental pressure. These are the cases of underemployed people which is slight different from the situation of unemployed people. It is spirit itself that builds the body.In this essay we will discuss about the Economic Development of a Country.
After reading this essay you will learn about: ultimedescente.comic Growth and Economic Development ultimedescente.cominants of Economic. Short essay on economic crisis in india Essay Samples.
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The Gross Domestic Product (GDP) is the measure of national income and output for a given country’s economy. Economic Crisis Of India Essay Sample India is sadly caught up in Ian economic quagmire so intense and so pronounced that our rulers at present are faced with a.
UPSC MAINS ESSAY NO.
6: Crisis faced in India – Moral or Economic. by IAS Score; India is at cross roads. We are living in an age of aspirational India, restless to perform, achieve, and acquire everything that is good. This crisis also shows the failure of capitalist market economy. Though the Indian economy would be able to withstand the crisis without any major difficulty, but the crisis is still causing mayhem all over the world.Download