Essay On Growth Of India Indian Economic History Essay Indian Economic Environment

1. Essay On Growth Of India
spirations of its young population. India is one of the youngest nations in the world where the ratio
of youth is higher in its population, with more than 54% of the entire population under 25 years of
age and over 62% of the population inside the working age group (15–59) in According to the census
2011India}. The country's population pyramid is anticipated to bulge across the 15–59 age groups
over the next decade. This demographic advantage is predicted to last only until 2040. A World
Bank report states that India is one of the few countries where working population continues to
grow till 2050 [7]. With an annual addition of 9.25 million jobs per year, over 37 million jobs are
expected to be created from 2012–13 through 2016–17 [8]....show more content...
There have been efforts on the part of the state and Centre government through Ministry of Rural
improvement to skill and train youths under diverse government schemes. However, most of those
schemes are restrained to the youths beneath Poverty Line (BPL). There should be equal
opportunities for all the people residing in rural areas. Every job aspirant should be given equal
importance and would be given training in soft skills to lead a proper and decent life. For the
Balanced growth in all the sectors the Goal of national policy and programs on skill improvement
have has to diversification of economic activities, minimizing the dependence of rural households on
agriculture and bringing approximately a sizable increase in the share in both output and
employment of allied activities, rural industries, business and provider components of the
agricultural economic system.
To bring about a fast and sustainable economic development thru diverse reforms, the rural
development initiatives should sharply cognizance on human's participation and rural corporations
as the key attributes for their success followed through equally important elements, idea of integrated
development, growth center technique, planning process technique, communication system to
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2. Indian Economic History Essay
ECON345
The Dragon and the Elephant: India and China in the Asian Century
1
Essay Topic No 1
"It is the context and circumstances prevalent in any nation that should determine its policies and
strategies of growth" (Mahtaney, 2010, p. 159). Illustrate the truth or falsehood of this statement
with reference to either India or China
_____________________________________________________________________
"An ounce of practice is worth more than tons of preaching"
(Mahatma Gandhi, 1946).
Economic thought is an ever–adapting philosophy, which has been 'preached' by many differing
schools of thought throughout the centuries. In this current global economic context, the majority of
worldwide economic strategies and polices...show more content...
For example, it is among the most industrialised nations of today which leads the world in the
Information and
Technology industry (IT), with their 350,000 IT and engineering graduates each year, and yet the
majority of it's Gross Domestic Product (GDP) is comprised from the agricultural sector where in
1991 it equated to 30% of all GDP (Rudolph, 1987, Table
One, p. 5). The rural sector of India remains vital today as 70% of the total Indian population dwell
in either small rural villages or farms (World Hunger and Poverty
Facts, 2013). India has therefore managed to combine its impressive economic achievements, which
can match that of the developed world, whilst continually facing humanitarian issues present in
developing nations. This conclusion suggests that economic development does not necessarily have
a correlation with human development. Until recently, a common view of development referred to
rising income levels and overall economic growth of a country. However, in recent years a shift
towards focusing upon humanity issues and circumstances rather than monetary concerns reflects
the new definition of a nation's development, which can be measured by the Human Development
Indicator (HDI) produced by the United Nation
Development Programme in 1990. Discussions on the 'goals of development' now involve
emphasizing the reduction of poverty, rather than raising the average levels of income per capita
(Anand & Ravallion, 1993, p. 133).
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3. Indian Economic Environment
THE INDIAN ECONOMIC ENVIRONMENT
Companies and their suppliers, marketing intermediaries, customers, competitors, and publics all
operate in a macro environment of forces and trends, increasingly global, which shape opportunities
and pose threats. These forces represent "non–controllables", which the company must monitor and
to which it must respond.
The beginning of the new century brought a series of new challenges: the steep decline of the stock
market, which affected savings, investment, and retirement funds; increasing unemployment;
corporate scandals; and of course, the rise of terrorism. These dramatic events were accompanied by
the continuation of existing trends that have already influenced the global landscape....show more
content...
10,000. Income distribution of households in India has been changing significantly over time.
Households belonging to the lower income segment have been steadily declining over the years, and
the middle income households have been showing an increase. These are the results of economic
growth. The NCAER (_) has classified Indian consumers into five categories ––– destitute (annual
household income of Rs. 16,000; not active participants in market exchange for a wide range of
goods), aspirants (annual household income of Rs. 16,000–22,000; new entrants into the
consumption systems due to increase in their real income), climbers (annual household income of
Rs. 22,000–45,000; have desire and willingness to buy, but have limited cash at hand), consuming
class (annual household income of Rs. 45,000–215,000; households that form the majority of
consumers; have money and are willing to spend), and the rich (those who have money and own a
wide range of products). The patterns of income distribution in urban and rural areas also vary.
SECTORS–
Industry and services Industry accounts for 28% of the GDP and employ 14% of the total
workforce. However, about one–third of the industrial labour force is engaged in simple household
manufacturing only. Economic reforms brought foreign competition, led to privatization of certain
public sector industries, opened up sectors hitherto reserved for the public sector and led to an
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