Economic growth


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Economic growth

  1. 1. Economic Growth in India after 1947
  2. 2. Economic Growth <ul><li>Economic growth is the increase of per capita gross domestic product (GDP) or other measures of aggregate income, typically reported as the annual rate of change in real GDP. </li></ul><ul><li>Economic growth is primarily driven by improvements in productivity, which involves producing more goods and services with the same inputs of labour, capital, energy and materials. </li></ul>
  4. 4. Basic parameters of economic growth <ul><li>EDUCATION </li></ul><ul><li>POVERTY </li></ul><ul><li>EMPLOYMENT </li></ul><ul><li>AGRICULTURE </li></ul><ul><li>HEALTH </li></ul>
  5. 5. EDUCATION <ul><li>Literacy rates in India have arisen dramatically from 18% in 1951 to 65% in 2001. </li></ul><ul><li>Literacy among males is nearly 50% higher than females, and it is about 50% higher in urban areas as compared to the rural areas. </li></ul><ul><li>Literacy rates range from as high as 96% in some districts of Kerala to below 30% in some parts of Madhya Pradesh. </li></ul>
  7. 7. POVERTY <ul><li>Income poverty declined from 55% in the early 1970s to 28% in 2004-05. </li></ul><ul><li>Although there has been progress in decline, still more than 300 million below poverty line. </li></ul><ul><li>80% of the poor are from rural areas. </li></ul><ul><li>Poverty concentrated in few states (Bihar, Uttar Pradesh and Madhya Pradesh and Orissa, Chhattisgarh and Jharkhand ) </li></ul><ul><li>Concentrated among agricultural labourers, casual workers, Scheduled Castes and Scheduled Tribes </li></ul>
  8. 8. Trends in Poverty (%): India Year Rural Urban Total 1973-74 56 49 55 1983 46 41 45 1993-94 37 32 36 2004-10 28 26 28
  9. 9. Number of poor (in million) Year Number (million) 1973-74 321 1983 323 1993-94 320 2004-10 297
  10. 10. EMPLOYMENT <ul><li>India’s labour force has reached 375 million approximately in 2002, and it will continue to expand over the next two decades. </li></ul><ul><li>The actual rate of that expansion will depend on several factors including population growth, growth of the working age population, labour force participation rates, educational enrolment at higher levels and school drop-out rates. </li></ul>
  11. 11. Employment Sector 1961 2004-10 Agriculture 75.9 51.4 Industry 10.6 23.2 Tertiary 12.4 25.4 Total 100.0 100.0
  12. 12. Problems in Employment <ul><li>There are 458 million workers in India in 2004-05 </li></ul><ul><li>Out of this 423 million workers are informal/ unorganized workers (92%). </li></ul><ul><li>Growth in employment more in unorganized sector. </li></ul><ul><li>Thus, quality of employment is a problem </li></ul><ul><li>Workers in this sector do not have social security. </li></ul><ul><li>Government is trying to provide minimum social security to unorganized workers </li></ul>
  13. 13. AGRICULTURE <ul><li>Agriculture  is the cultivation of animals, plants, fungi and other life forms for food, fibre, and other products used to sustain life. </li></ul><ul><li>The history of agriculture dates back thousands of years, and its development has been driven and defined by greatly different climates, cultures, and technologies.  </li></ul>
  14. 15. Problems in Indian agriculture <ul><li>Long term factors: Steeper decline in per capita land availability. Shrinking of farm size </li></ul><ul><li>Slow reduction in share of employment (still 55%) </li></ul><ul><li>Main problem is low labour productivity in agriculture. Gap between agri. and non-agri. is widening. </li></ul><ul><li>We should blame non-agriculture (industry and services) for not absorbing workers from agriculture. </li></ul>
  15. 16. Deficits in Agriculture Growth <ul><li>Six deficits in agriculture </li></ul><ul><li>: (a) land and water management deficit </li></ul><ul><li>(b) investment, credit and Infrastructure deficit, </li></ul><ul><li>(c) research and extension (technology) deficit, </li></ul><ul><li>(d)market deficit, </li></ul><ul><li>(e) institutions deficit, </li></ul><ul><li>(f) education/skill deficit </li></ul>
  16. 17. HEALTH <ul><li>Like population growth and economic growth, the health of a nation is a product of many factors and forces that combine and interact with each other. </li></ul><ul><li>Economic growth, per capita income, employment, levels of literacy and education ,age of marriage, birth rates and nutrition, access to safe drinking water, access to preventive health care and, road safety are among the factors that contribute directly to the health of the nation. </li></ul>
  17. 18. Conclusion <ul><li>There is a need to have a broad based and inclusive growth to benefit all sections of society and improve economic growth. </li></ul><ul><li>We have examined issues and challenges in five elements of inclusive growth (poverty, employment, agriculture, health and education) </li></ul><ul><li>If it is not inclusive it can generate very severe social tensions. Thus, politically, for having a stable and democratic society one needs to have inclusive growth. </li></ul>
  18. 19. Conclusion <ul><li>There are strong social, economic and political reasons for achieving broader and inclusive growth. </li></ul><ul><li>Socially, lack of inclusive growth leads to unrest among many people. </li></ul><ul><li>There is also an economic argument. The measures which raise equity also promote economic growth. </li></ul><ul><li>Lastly, the political argument is that no government in a democracy can afford to ignore large sections of workers and non-working population. </li></ul>
  19. 20. <ul><li>THANK YOU </li></ul>
  20. 21. <ul><li>Compiled by </li></ul><ul><li>Kaushal Kumar </li></ul><ul><li>Presented by </li></ul><ul><li>Mithlesh Kumar </li></ul><ul><li>Elaborated by </li></ul><ul><li>Naushad alam </li></ul><ul><li>Md shah faisel </li></ul>
  21. 22. <ul><li>ANY QUERY ? </li></ul>