MPPSC Paper III- Economy

Current trends and challenges in the Indian Economy

Current trends and challenges in the Indian Economy Good news is underway for India as its economy is poised to win back its tag of the fastest growing economy in the world. The recent upgrade of India’s rating by the US based credit rating agency Moody’s (Baa2 from Baa3) in recognition of the reforms agenda pursued by the Government is a major boost to investor confidence. Further, as the short term disruptions caused by major reforms such as the Goods and Services Tax (GST) and demonetization recede, the economy is on the rebound and is likely to achieve higher growth ... Read more

Urban issues, Urban development (social and economic infrastructure) and Housing for Low Income Groups. 

  Urban issues, Urban development (social and economic infrastructure) and Housing for Low Income Groups.    Urbanization is the growth in population residing in urban areas, due to both growth in population of current residents and net migration into urban areas. It also encompasses a transformation of the erstwhile rural areas into ‘urban’ areas through changes in population density and the employment profile from a primarily agrarian and agro-based employment to non-agriculture based employment. In terms of all the basic human development parameters, urban areas stand out as significantly different from rural belts, both in the provisioning of services essential ... Read more

Rural development (Social and economic infrastructure) -MPPSC Mains

  Rural development is the process of improving the quality of life and economic well-being of people living in rural areas, often relatively isolated and sparsely populated areas. Rural development has traditionally centered on the exploitation of land-intensive natural resources such as agriculture and forestry. However, changes in global production networks and increased urbanization have changed the character of rural areas. Increasingly tourism, niche manufacturers, and recreation have replaced resource extraction and agriculture as dominant economic drivers. Good quality infrastructure is critical to sustainable growth, especially for rural areas. As over 60 per cent of the population lives in rural ... Read more

Rural Credit- MPPSC Mains

68.84% of the population in India is rural based and majority of them depends on agriculture for a living. Enhanced and stable growth of the agriculture sector is important as it plays a vital role not only in generating purchasing power among the rural population by creating on-farm and off-farm employment opportunities but also through its contribution to price stability and food security.The share of agriculture and allied sectors in Gross Bank Credit was about 13 per cent despite rise in credit flow to agriculture in absolute terms. The heavy dependency of farmers on moneylender is partly on account of ... Read more

Indicator of development, Human development & Economic development

Human development is a process of enlarging people’s choices. The most critical ones are to lead a long and healthy life, to be educated and to enjoy a decent standard of living. Additional choices include political freedom, guaranteed human rights and self-respect.Human development has to be development of the people, by the people, for the people. Human development is about creating an environment in which people can develop their full potential and lead productive, creative lives in accord with their needs and interests. The first Human Development Report was published in 1990,States human development as a process of enlarging people’s ... Read more

Co-operative movement in India and M.P

Co-operative movement in India and M.P The cooperative movement in India has its origin in agriculture and allied sectors. The first Cooperative Credit Societies Act was enacted in 1904.Subsequently a more comprehensive legislation called the Cooperative Societies Act was enacted. This Act provided for the creation of the post of registrar of cooperative societies and registration of cooperative societies for various purposes and audit. Under the Montague- Chelmsford Reforms of 1919 cooperation became a provincial subject and provinces were authorized to make their own cooperative laws. Under the Government of India Act 1935 cooperatives were treated as a provincial subject. ... Read more

Factors of economic development

Economic Growth Economic growth means an increase in real GDP. This increase in real GDP means there is an increase in the value of national output / national expenditure. Economic growth is an important macro-economic objective because it enables increased living standards and helps create new jobs. Measurement of Economic Growth Economic growth is measured by changes in the gross domestic product (GDP). It measures a country’s entire economic output for the past year. That takes into account all goods and services that are produced in this country for sale, whether they are sold domestically or sold overseas. It only ... Read more

Unemployment

Nature, types and Problems of Unemployment in India:-Unemployment may be defined as “a situation in which the person is capable of working both physically and mentally at the existing wage rate, but does not get a job to work”. India is one of those ill-fated underdeveloped countries which is suffering from a huge unemployment problem. But the unemployment problem in India is not the result of deficiency of effective demand in Keynesian term but a product of shortage of capital equipment’s and other complementary resources accompanied by high rate of growth of population. Present unemployment problem in India is mostly ... Read more