Impact of per capita income on middle class anuj
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This document discusses the impact of per capita income on India's middle class. It begins by defining per capita income and how it is used as an indicator of economic welfare. It then provides details on India's current per capita income levels and the challenges to continue growing this number. The document estimates that India's middle class will grow significantly in the coming decades as per capita income increases. It describes how the growing middle class is becoming an important consumer market and discusses the key drivers that will change their consumption patterns over time.
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1) National income of India constitutes the total amount of income earned by the whole nation and originated both within and outside its territory during a particular year.
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6. joan robinson's model
Joan Robinson developed growth models that rejected many neoclassical assumptions. Her models considered capital as durable and heterogeneous, not easily substitutable for labor. She argued the value of capital depends on distribution and cannot be estimated without knowing interest rates. Robinson built multiple models to analyze growth under different economic conditions. Her key model showed the relationship between the actual and desired rates of accumulation and profit. Steady growth required these rates to be equal, but various factors could cause them to diverge, making sustained steady growth difficult to achieve.
GDP Growth and its Importance
Gross Domestic Product (GDP) consists of consumer spending, investment expenditure, government spending and net exports hence it portrays an all-inclusive picture of an economy because of which it provides an insight to investors which highlights the trend of the economy by comparing GDP levels as an index. It is used as an indicator for most governments and economic decision-makers for planning and policy formulation. In case of GDP, each component is given the weight of its relative price. GDP helps the investors to manage their portfolios by providing them with guidance about the state of the economy. Calculation of GDP provides with the general health of the economy. A negative GDP growth portrays bad signals for the economy. When the economy is expanding, the GDP growth rate is positive. If it's growing, so will businesses, jobs and personal income. If the GDP growth rate turns negative, then the country's economy is in a recession. It is not a measure of the overall standard of living or well-being of a country. Although changes in the output of goods and services per person (GDP per capita) are often used as a measure of whether the average citizen in a country is better or worse off, it does not capture things that may be deemed important to general well-being. Without an increase in GDP, there are always going to be limitations to economic development.
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There are several ways to measure development levels and the gap between developed and developing countries:
1) GDP and GNP per capita are traditional economic measures but don't capture inequalities within countries.
2) Social indicators like health, education, and housing provide a more holistic view of development.
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The document discusses the economic environment and dimensions that influence business in Nepal. It outlines key components of Nepal's economic structure, including GDP, GDP per capita, economic policies, inflation rates, and levels of employment. It also examines Nepal's socioeconomic indicators such as population size, density, age distribution, labor force composition, and employment trends. The 14th economic development plan aims to transform agriculture and tourism and expand infrastructure to reach middle income status and a more prosperous, socially just nation.
Final dissertation
The document evaluates financial inclusion in India by analyzing trends such as the spatial distribution of banking services, number of deposit and credit accounts, population coverage by region, agricultural credit coverage, and coverage of farmer households by social group and land holding. It finds that while the number of bank branches has increased across regions, the rise in credit accounts per population has not been significant. Coverage of farmer households and small/marginal farmers also remains low. The study recommends increasing priority on financial inclusion policies to better cover the poor through strategic credit provision, cooperative use, procedural changes, and government/technology initiatives.
Characteristics of underdeveloped economies
Underdeveloped economies are characterized by low per capita incomes, underutilized resources, inefficient production techniques, and potential for growth. They have incomes of $1025 or less and rely on agriculture, suffering from poverty, unemployment, and low levels of living. Population growth outpaces economic growth, exacerbating unemployment and poverty. Development requires improving infrastructure, education, health, and industrialization to increase productivity and standards of living.
988 (1)
India's economy has grown rapidly since the 1980s averaging 5% growth per year and over 7% since 2001. This growth has significantly reduced poverty levels. However, challenges remain in making growth more inclusive and addressing infrastructure bottlenecks. India's continuing growth will have positive effects on the global economy through increased trade and investment, but also risks upward pressure on commodity prices and energy demand. Managing this growth in an environmentally sustainable way remains an important task.
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The slide gives the characteristics of the Indian economy through some important economic indicators.
Business Economics 1 (1).pptx
Business economics, also known as managerial economics, is a branch of economics that applies economic theory and principles to business decision-making. It involves the use of economic analysis to solve various business problems, optimize resource allocation, and make effective managerial decisions. Business economics focuses on understanding how businesses operate in the market and how they can make the best use of limited resources to achieve their objectives.
Key aspects of business economics include:
Demand and Supply Analysis: Analyzing the demand for a company's products or services and understanding how it interacts with the supply available in the market. This analysis helps in determining the optimal pricing and production levels to maximize profits.
Cost Analysis: Understanding the various costs involved in production, such as fixed costs, variable costs, and opportunity costs. Businesses use cost analysis to identify cost-effective strategies and achieve cost efficiency.
Pricing Strategies: Determining the most suitable pricing strategies that consider factors like production costs, customer demand, competitor pricing, and market conditions. Pricing decisions impact a company's revenue and market position.
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introduction economics growth and development.pptx
Economic growth can be defined as an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured in nominal terms, which include inflation, or in real terms, which are adjusted for inflation. Economic development is a wider concept than economic growth and aims for development of human capital, infrastructure, health, literacy rates, and general welfare. It involves both quantitative and qualitative changes in the economy to promote standard of living and economic health. Some key indicators of economic development include GDP per capita, life expectancy, literacy rates, and measures of poverty.
Chapter 2
The document discusses measuring economic growth and development. It distinguishes between economic growth, defined as a rise in real per capita income, and economic development, which is a normative concept involving improvements to well-being, health, education, and other factors. Two main measures of economic growth are GDP and GNP. While GDP provides a standard measure, it has limitations and issues with price comparisons across countries can arise. Purchasing power parity aims to address these issues. Overall economic development requires not just growth but also converting income gains into improved human capabilities and living standards.
Final dissertation
The document evaluates financial inclusion in India by analyzing metrics like the spatial distribution of banking services, number of deposit and credit accounts, population coverage by region, agricultural credit coverage, and coverage of farmer households by social group and land holding. It finds that while the number of bank branches has increased across India, the rise in credit accounts per population has not been significant. Coverage of small and marginal farmers also remains low, though the proportion of non-indebted households is highest among marginal farmers. The study recommends expanding access to banking services for the poor through cooperation between banks, government, and other institutions.
Economic environment ppt
The economic environment refers to all economic factors that influence business operations. It determines the inputs businesses need and the markets to sell finished goods. Key elements include gross national income, GDP, inflation, unemployment, poverty levels, and the type of economic system - whether it is a market, command, or mixed economy. Managers must assess the economic environment to make investment and strategic decisions that account for local conditions and predict future performance.
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This document discusses economic growth and development. It defines economic growth as an increase in a country's production capacity over time, which can be measured in nominal or real terms. Economic development involves policy interventions to develop human capital, infrastructure, health, and welfare. It aims to improve living standards and is measured by indicators like the Human Development Index. Factors like inflation, taxes, interest rates, and government policies can affect economic development. The document also discusses India's economic growth and development in recent decades since economic reforms began in 1991.
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Impact of per capita income on middle class anuj
- 1. IMPACT OF PER CAPITA INCOME ON MIDDLE CLASS PREPARED BY:- KSHAMA CHOPRA NIKITA SINGAL RISHIBHA RAI SULTAN OMAR SALIM MANSI CHUGH ANUJ DIWAKAR
- 2. INTRODUCTION • Per capita income or income per person is the quotient of income to the population size. • It is a measure of all sources of income in an economic aggregate, such as a country or city. • Per capita income is used as an indicator of the economic welfare of a county's residents. • Per capita income is also a measure of the wealth of a population of a nation when compared with other countries.
- 3. Per Capita Income In India • India's per capita income is found by the Atlas method and by employing official exchange rates for conversion. • Economist have been giving considerable importance to the performance of states visa vie each other in terms of per capita income.
- 4. Current Situation • The average income of Indian has grown by 10.5% to Rs 44,345 in2009-10 as against Rs 40,141 in 2008-09, at the current price. • The per capita income slightly exceeded its estimate calculated by Central Statistical Organisation(CSO) in 2009-10. • At 2004-05 prices, the size of GDP stood at Rs 44,64,081crore in 2009-10 as against Rs 41,54,973 crore in 2008-09.
- 5. Challenges ahead • To quadruple the per capita income by 2020. • To adopt a longer term perspective • To attain a level of development far higher than other countries. • To learn from experiences of other countries which have already passed through these stages of development.
- 6. Middle class • The middle class is a phenomenon of the capitalist era. • The World Bank estimates that the global middle class is likely to grow from 430 million in 2000 to 1.15 billion in 2030. • The bank defines the middle class as earners making between $10 and $20 a day.
- 7. • The McKinsey Global Institute, projects India's middle class will grow from 50 million to 583 million people in the next two decades.
- 8. THE MIDDLE CLASS IN INDIA • The middle class is not (yet) the biggest segment of india’s overall population. • The middle class is a growing consumer market. a) Forecast to triple as a share of india’s total consumption over next 15 years. b) As income increases, spending increase and variety of spending also increase.
- 10. c) New range of products are being geared towards middle class.
- 11. d) The use of financial services has increased.
- 12. • The financial crisis has hit the middle class, but optimism about the future reigns.
- 13. Drivers of changing consumption patterns • Affluence • Urbanization • Globalization
- 14. Macroeconomic growth (gdp growth)
- 15. (Income growth)
- 18. Consumption by category (share-of- wallet evolution)