To know and understand the nature of Indian economy, it is very necessary to have a clear idea about the meaning of Indian economy. Although India is an agro-based economy, but lot of emphasis has been given on the development of industries both consumer goods and capital goodsservice sector including construction, trade, commerce, banking system etc.
By Ajit Sen Essay on Economic Development in India An economist and an administrator will take upon these changes as an sign of increasing social welfare. He is primarily concerned with the betterment of his own lot.
A Government exists for people; it exists and functions for the good of the common-people. The economists simply guide the government to enable it to serve the interest of the common-people.
But what is the position of common people today? The answer is clear; the average person, today, is neither materially better off nor mentally, as well as, psychologically happier than what he was under the alien rule in the country.
Food, the primary necessity of life, is becoming dearer and dearer. It seems that the rising prices would help the agriculturists.
However, in the long run he, too, must suffer, sharing with his brethren the common miseries of life. Apart from the miseries of common person, as a nation, too, we are most discontented.
As a nation, we are steeped in debt. Of course it is necessary for a growing country to borrow money; the international situation is such that foreign powers willingly lend us money.
From, where has money to come for the repayment of all our debt? We are hoping for a greatly increased productivity of our economy. But it must be noted that it is the debt.
The average person has to put his hands in his pocket to supply the money for the redemption of the mounting foreign loans. But it is the common man whose interest is neglected today.
Our Government is proud of the great industrial plants which have started functioning under the Plans, and more are to be established under the new Plan.
For example, we have mighty steel and power plants in various parts of the country. But the failure to move requisite quantities of coal to the plants has been adversely commented upon.
Agriculture is the backbone of Indian Economic Development. Regarding agriculture, it is clear fact that there has been much more to do. Of course, with the abolition of zamindari system, peasants have heaved a sigh of relief. Further, The village dwellers are streaming into urban areas, being attracted by a false notion that the industries would absorb them.
But in reality migration tends to intensify the complexity of our unemployment problem. To sum up, the economic situation in the country since the independence has been that the rich have become richer whereas the poor have become poorer.
The laborers and common men have not yet been able to spare themselves from their economic wants of life.India has a mixed economy system. In a mixed economy system the public sector (Governed-owned) enterprises exist, along with private sector enterprises to achieve a socialistic pattern of society.
Essay on GDP of India – Economy of India. Free words essay on GDP of India – Economy of India for school and college students. The Gross Domestic Product (GDP) is the measure of national income and output for a given country’s economy.
It is the measure of total expenditure for all final goods and services that have been produced in a. Learn about the Indian Economy, incl. an overview of the major sectors, market size, growth, recent developments, stats, etc By India Brand Equity Foundation.
Essay on the Economy of India! The Indian economy is diverse and embraces a huge area including agriculture, mining, textile industry, manufacturer and a vast area of other services.
There is an enormous shift from what the economy used to be in the distant past.
Cashless India Essay 5 ( words) Cashless India is a recently introduced phenomenon targeted to bring a sea change in the country’s economy by the Indian government, transforming the cash-based economy into cashless through digital means.
Essay on Present Situation of Indian Economy – Essay 2 ( words) Introduction. Indian economy has seen a major growth in the last few decades. The credit for this boom largely goes to the service sector.