Essay on Inflation in India: Problems and Government Initiatives What is Inflation? Inflation may be defined as a situation in which too many people purchase too few goods. The purchasing power of the money goes down and the prices not only of luxury goods but of many essential commodities such as rice, wheat, cloth, vegetable…
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Economic Reforms in India since 1991 Economic reforms refers to the changes introduced by the Government to bring an improvement in the economy of the country. Economic reforms refers to the introduction of innovative policies such as eliminating the market barriers, encouraging economic participation from private sector, reducing the fiscal deficit, increasing exports and reducing…
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Economic Planning in India Introduction Economic Planning is the making of major economic decisions. What and how is to be produced and to whom it is to be allocated – by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economic system as a whole. In…
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Economic Growth and Development in India The economy is the system of goods and money used by a given society. Growth means getting bigger. Development means becoming more advanced or complex. Economic growth and development can mean an economy that becomes advanced, larger, diverse, profitable, and expand into new regions/horizons. Economic Growth and Development in…
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Dualism in Indian Economy and Society Introduction Dualism mainly refers to economic and social divisions in an economy, such as differences in technology between sectors, differences in the degree of geographic development and differences in social customs and culture. Dualism can be in shape of geographic, social technological and financial. It would be…
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Difficulties in Measuring National Income in India Difficulties in estimating national income in India are as follows: Firstly, in India, most of the people are illiterate. They have no idea about the method of keeping accounts. Secondly, the large non-monetary sector of our economy also stands in the way of the national income…
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Different Types of Banks in India Banks in India A bank is a financial institution whose purpose is to receive deposits and lend money to individuals and businesses, disburse payments, invest funds in securities for a return, and safeguard money. It services savings and current (chequing) accounts, provides credit to borrowers in the…
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Development of Small Scale Industries in India The Small Scale Industries play an important role in Indian economy in spite of facing numerous difficulties. The Government of India has taken certain measures for the development of cottage and small scale industries. We will discuss those measures in brief in the following: 1. We…
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Demonetization: Meaning, Advantages and Disadvantages Meaning of Demonetisation The act to cease a currency unit or put an official stop on its status as a legal tender is known as demonetisation (alternate spelling: demonetization). Demonetisation is the process that involves a change of national currency, where old currency is replaced with new currency.…
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Cottage Industries in India: Necessity, Impact, Advantages, Disadvantages, and Solution Cottage Industries in India Introduction: In the modern industrialized world, there are large factories and mills with huge machines, smoking chimneys and hundreds and thousands of laborers. The present condition of cottage industries in not very good. However, there are few people who thinks…
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