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What Are The Main Features of A Developing Economy?

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In India, the country's national income grew slowly but steadily. It is evident from the Rs 2, 69,624 in 1950/51 to Rs 49,58,849 for 2011/12, which showed a growth of 173 8.5% over the last 61 years, that Indian national earnings at the prices of 2004/5 have increased by 1738.5%.  Also, national income in India rose from Rs 9,820 in 1950-51 to Rs 1,12.17,079 in 2014-15 which showed an increase of 1141 times over the current 64-year period. The sectoral share of national revenues is a significant measure of the extent of economic growth. Agriculture, forestry, fishing, and mining contributions by the primary sector gradually decreased from 56.4% of GDP in 1950-51 to 45.8% in the 1970-71 period, then finally to 19.07% in 2014-2015. In speeding a country's rate of economic development , capital formation plays an important role. The expected gross domestic savings in India since planning started would be of great interest. The gross domestic savings rate has risen dramatically in ...

Which is a More Effective Degree, Economic or Rural Development?

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  Rural growth is a subject that is fairly easy to grasp but difficult to execute. It focuses on the upliftment and growth of rural economies, which are facing severe problems of poverty and are effectively trying to improve their competitiveness. It also stresses the need to resolve different pressing issues affecting village economies that impede and promote development in these regions.  An example of an agrarian economy is the rural economy. While farming and agriculture are one of the most significant primary activities, the problem lies in the persistent decline in their share of the agricultural sector's GDP. At the same time, nearly two-thirds of the population of India relies on agriculture. As a consequence, efficiency is not up to the mark, with circumstances just deteriorating.  Also, the downturn in public spending since 1991 has been related to a lack of sufficient infrastructure, credit, transport, housing, etc. From now on, agricultural production increase...

Which Service Sector is The Most Powerful in India?

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Darpan Jain, IAS, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry , said the signs of a rising economy are directly related to its earnings from the service sector. Up to 95 per cent of GDP falls from the service sector of many developing countries. Despite India's headwinds in the industry, it still lags behind, he said on Tuesday at a media interaction here.  The service sector contributes 60 percent to India's GDP and 70 percent to Karnataka 's GDP, according to data from the trade ministry. Some 55 percent of FDIs coming to India come from the service sector, which creates more jobs than any other sector. In the $100 bn healthcare market, where India's share is just around $1 billion, there is tremendous opportunity for India. Per year, more than 1 crore individuals fly globally for healthcare, and out of this, India receives just 2 to 3 lakhs. Along with the Services Export Promotion Council (SEPC) and the Confederation of Indian Industr...

Why Is There A Need To Pay More Attention To The Agricultural Sector in India?

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  In the Indian economy, agriculture is a very important field. This is because it offers jobs to nearly half of India's population and contributes to 17% of India's GDP. Several improvements have been noticed in the sector since independence.  India's post-independence focus was on imports of agricultural products. However, the years of drought in 1965 and 1966 prompted the government to concentrate on increasing agricultural production by increasing crop yields per hectare. It is often referred to as a 'green movement' that centered on input changes leading to output change. In the early part of the 1970s, high yielding varieties, as well as better fertilizers and irrigation facilities and a competent science research institution, culminated in increased wheat yields. Rice was the second crop to experience this sort of transition as the production of wheat increased.  There was a crucial position for tube wells in the case of rice. Eventually, the revolt extended...

Can India recover from negative GDP growth in 2020?

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Indian FY21 GDP growth will inevitably be in a bad territory as the locking of coronaviruses led to severe disruptions in demand and supply, the Chairman N.K Singh of the 15th Finance Commission, said Monday. The country is expected to experience strong V-shaped recovery in the third and fourth quarter  Singh said the economic expansion in 2022-23 will decide whether or not the growth revival efforts are successful and stated that global economic downturn would continue to cloud growth prospects for the next fiscal year. “This pandemic has led to massive economic lockouts that have triggered significant dislocation on both supply and demand sides," said Singh at an AIMA event here.  "Q1 or Q2 would not be strong results, at least, and I think there will be a very fast rebound in V type in Q3 and Q4 of the current fiscal year; not exactly something major, but a smaller one. However, the whole fiscal year will end on a pessimistic direction" he said. The economic growth of...

How Does GDP Affect The Employment Of Any Country?

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  GDP growth and jobs are two primary factors that economists must consider while analyzing the economy . There's a strong relationship between the two, and by attempting to research the relationship between economic development and unemployment rate, several analysts have interpreted the debate.  Economist Arthur Okun first began to tackle the debate in the 1960s and since then his thesis on the subject has been known as Okun's law. There are also numerous ways to measure jobs, and the main trial ground for Okun's law was of course the United States. Okun also examined the difference between the economic potential production and the actual real output levels.  The Kansas City report analyzed different iterations of Okun's rule, beginning with his initial quarterly arrangement, a "void edition" that looked at variations between current and future production, and whether the legislation would be kept in a state of full employment or even high unemployment.  It ...

What is The Impact Of Sugar Detox On Health?

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  If you have heard about the currentdevelopments in nutrition , the notion of a diet detox may have been exciting.   Yet if you've tried juicing, exercising, or cooking in an attempt to reduce weight or boost your well-being, you're already aware that reducing calories dramatically as a long-term lifestyle solution to healthier eating isn't efficient. Strict detoxification may potentially cause symptoms like tiredness, dizziness, and low blood sugar.   Yet according to some researchers, there's one type of natural detox that is worthwhile. Reducing your dietary sugar will help you lose pounds, boost your wellbeing, and even turn your skin look radiant.   "Sugar makes you obese, unhealthy and tired," said Brooke Alpert, a licensed dietitian and co-author of "The Sugar Detox: Drop the Sugar, Drop the Weight — Look and Sound Amazing." "What we've learned in the past few years is that sugar holds us overweight. It's also a leading c...