Economy Policy

Economic Policy for Balanced Growth The broad objective of sparing policy in India is to bring about rapid economical harvest-festival of the sphere. Economic crop to be meaningful, in a large awkward like India, should be balanced, regionally, topical anestheticly, sectorally and temporally. Economists have make a distinction between the two terms, economic growth and economic get under ones skinment. While the term economic implies a numeric increase in the volume of productions of goods and services in the country, as reflected by an increase in the substantial gross municipal product and real per capita gross domestic product and real per capital gross domestic product of the country all over the years, the phrase economic development has a qualitative intension besides its quantitative formulation. Economic development of a country implies not only a quantitative increase in the volume of production, but also a qualitative usefulness in its distribution. The distributive criterion of economic development domiciliate be subdivided into four sub aspects and they are: the regional aspect, the local aspect, the compositional aspect and the temporal aspect.

Regional aspect: The regional aspect refers to the fact that in a large country like India, economic development should bring about a balanced growth of the different regions of the country. A mere growth of the gross national product of the country, even at a high rate, will not satisfy this criterion if a few regions of the country or states of the country advance economically in terms of economic activity and per capita income while some(prenominal) other regions remain backward. Local aspect: The local aspect of distribution implies a balance among the different localities, cities, their hinterlands and the rural areas of a region. Left to itself, economic activity has a tendency to lump in certain localities which gradually become industrial centers and cities and they develop leaving the villages and rural areas backwards, thereby giving rise to local... If you indispensability to get a full essay, order it on our website: Ordercustompaper.com

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