Category: Economic Development

While writing the essay on this topic, please keep the below given points in mind. Points (1) Introduction (2) Establishment of Rural Banks ADVERTISEMENTS: (3) Expansion of Nationalised Banks (4) 20-Point Economic Programme (5) Chief Ministers’ Conference (6) Aims and Objectives of Rural Banks ADVERTISEMENTS: (7) Financial aspects (8) People’s Banks (9) Future of Rural Banks ADVERTISEMENTS: (10) Conclusion Essay Since ages past the average Indian farmer has been living under heavy debts. He is born under debts, lives in debts, dies in debts and leaves debts for his heirs. The basic reason of his endless debts is the ancestral obligations; which are regarded sacred and paid till his last breath. The heavy expenditure at social functions, deaths and marriages force him to be down under the feet of traditional…

Man’s oldest dream has been to establish one world state or a world government consisting of all the countries of the world. In the past also some religious and political philosophers had envisaged this idea of a world state. The Vedas of the Hindus had preached “Vasudhaiva Kutumbakam” i.e. the entire world should be treated as one family.Saint Augustine, the famous Christian philosopher, talked of establishing one world kingdom of God on this earth and thereby achieving world unity. Dante, an Italian philosopher, favoured the setting up of a world government for the peace and the prosperity of the entire mankind. Thus a number of great men have been propagating the idea of one world state from time to time.Although the idea of one world state has not taken concrete…

When highly qualified experts like scientists, engineers, doctors and oft trained persons migrate from under-developed countries and settle down: advanced countries, their migration is called “Brain Drain“. This problem is n peculiar to India alone. It is being faced by almost all the developing country of the world.Brain drain results in direct loss to the underdeveloped and poor countries who train these experts at a great cost. When these experts migrate to advance countries, such countries stand to gain because they get the services of the experts without having had to spend anything on their training.According to a U.N.O. report, thousands of experts migrate from backward countries like India to highly advanced countries like the U.S.A., U.K., Canada, Germany, etc. U.S.A. has been the biggest gainer from the brain drain…

Here are six (6) advantages that an open economy can provide to a country: 1. Economic Growth It is claimed that an open economy, with given productive resources, can have a higher GDP. Alternatively, for producing a given GDP, it spends a smaller quantity of productive resources.This happens due to its enhanced access to improved and better technology which provides an upward thrust to economic development. thyblackman.com 2. Lower Costs Open economies are able to get cheaper imports and can sell exports at higher prices. In other words, both importers and exporters of open countries [and therefore, their consumers] benefit from price differentials. 3. Improved Availability of Goods and Services International trade in goods and services enables each country to concentrate on the production of those goods in which it…

M. Chief Minister of Tamil Nadu who captured power in the last State Assembly elections in 2006. His main plank was to distribute free colour TVs to the people.The DMK led by Karunanidhi enjoys the support of Congress and the Left parties. Chennai witnessed unprecedented violence in October, 2006, when the Municipal Corporation elections were held. ADVERTISEMENTS: Supporters of the DMK captured polling booths, drove out poll officers and party agents at knife point and stuffed the ballot boxes with ballot papers after voting for their party candidates. The rival candidates belonging to AIADMK, CPI (M) were assaulted.Tamil Nadu is one of the frontline States in the role of economic development, but this could easily slide, if efficient administration is lacking. Karunanidhi is also trying to lobby for constitutional amendment…

Through the establishment of public sector undertakings the basis of further rapid industrialisation has been attempted. They have also made a significant contribution to the balanced economic development in the country.The following are some tangible contributions of the public enterprises to the growth process of our economy. (1) Contribution to Capital Formation: ADVERTISEMENTS: Capital formation is a necessary condition for economic growth. This creates a nucleus for further growth. (2) Development of Infrastructure: Infrastructural facilities are as much essential for the economy to take-off, as the run-way for an aeroplane to take off. Infrastructure refers to power, transport, communication, irrigation, steel, cement and fertilizers. The public sector has played a pivotal role in creating infrastructural facilities in the development process of our economy. Image Source: mhi-global.com (3) Role in Export…

On the basis of the above definitions and considering the views of a large number of well known sociologists, we can identify the following essential characteristics of Social Change. 1. Universality of Social Change: Social change is universal. It characterises every society. No society is static. It is continuously in flux. This becomes evident from the fact that each modern society is today different from its past form. Under the impact of several internal and external factors, each society experiences changes in its structures, functions, institutions and processes. 2. Social Change is not Uniform: ADVERTISEMENTS: Social Change differs from society to society. Change is the law of nature. Change is the spice of life. However, it can be progressive or regressive, positive or negative, permanent or temporary, planned or unplanned,…

Lucian Pye in his work ‘Aspects of Political Development’ has very systematically explained the different ways in which political Development has been defined by various political scientists. (1) Political Development as the Political Pre-requisite of Economic Development: This view of political development seeks to conceptualise it in term of economic growth. Political development is regarded as “that state of the polity which might facilitate economic growth”. Paul A. Baran, Norman S. Buchanan, Howard S. Ellis, Benzamin Higgins, Albert Hirschman, Barbaran Ward and several other social scientists have advocated this view of Political Development. Image Source: pre13.deviantart.net ADVERTISEMENTS: Firstly, it is a negative view, because in practice we can study better the hindrances which a political system can pose to economic growth than the facilities that it can provide.Secondly, since economic…

This Act has added Part IX-A to the Constitution of India. It is entitled as “The Municipalities’ and consists of provisions from articles 243-P to 243-ZG. In addition, the Act has also added Twelfth Schedule to the Constitution. It contains 18 functional items of municipalities and deals with Article 243-W.The Act gave constitutional status to the municipalities. It has brought them under the purview of justiciable part of the constitution.In other words, state governments are under constitutional obligation to adopt the new system of municipalities in accordance with the provisions of the Act. Image Source:cdh2a.com ADVERTISEMENTS: The Act aims at revitalizing and strengthening the urban governments so that they function effectively as units of local government. The salient features of the Act are: 1. Three Types of Municipalities: The Act…

The definition of Economics had taken a static view of the dynamic problem until Samuelson removed this defect. The greatest merit of Samuelsson definition is that it recognises the dynamic changes taking place, both in the means (resources) and ends (wants) with the passage of time.The progress or changes occurring from time to time also affect the whole concept of the related developments in economic world. That is the reason of describing it as a growth-oriented definition.Samuelson defined Economics as follows: Image Source: a5.files.biography.com “Economics is the study of how people and society choose, with or without the use of money, to employ scarce productive resources which could have alternative uses, to produce various commodities over time and distribute them for consumption now and in the future among various persons…