The growth rate of HDI (1980 - 2012) India – 1.3% China – 1.7% Europe – 0.5 % World – 0.7 Types of Human Development Indicators Very high Human Development…
Market Equilibrium A situation in which the supply of an item is exactly equal to its demand. Since there is neither surplus nor shortage in the market, price tends to…
(1) MR = MC When one more unit of output is produced, MR is the gain and MC is the cost to the producer, so as long as the benefit…
The concept of National Income and related aggregates Gross vs. Net Net Value = Gross – Depreciation (consumption of fixed capital) Depreciation – Reduction in the value of capital goods…
Tax Reforms Tax reforms are concerned with the reforms in government’s taxation and public expenditure policies which are collectively known as its fiscal policy. There are two types of taxes:…
LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL Introduction and Background Since independence, India followed the mixed economy framework by combining the advantages of the market economic system with those of the…
The Debate over Subsidies The economic justification of subsidies in agriculture is, at present, a hotly debated question. It is generally agreed that it was necessary to use subsidies to…
Medieval period Lies between the 8th and the 18th century A.D The Early Medieval period (8th-12th-century A.D.) Later Medieval period (12th-18th century) Rajputs who belonged to the early medieval period The Rajput…
AGRICULTURE During the colonial rule, there was neither growth nor equity in the agricultural sector. The policy makers of independent India had to address these issues which they did through…
Indian Economy – 1950 - 1990 Introduction With independent our leaders were concerned for a system which would promote the welfare of all rather than a few. Socialism appealed…