Need For New Economic Policy 1980 – 1985 Indian Government started reducing controls over private sector but these steps were not sufficient to improve deteriorating conditions of the Indian economy. In 1990 Indian economy was on the verge of collapse.…
Monthly Archives: December 2012
NEW ECONOMIC POLICY – II
MEANING Economic Reforms are the measures which aim at radically changing the very basic character of the economy. It means a change from “regulated economy” to a “liberalized economy”. The State will no longer play the role of a “controller”…
NEW ECONOMIC POLICY – I
INTRODUCTION. Since the adoption of IPR 1948 significant developments took place in India. It marked the dawn of a mixed economy in India. 26th November 1949 – The constitution of India adopted with its “directive principles” of state policy by…
INTRODUCTION TO ECONOMICS – IV
ECONOMICS- AN ART: Every time we look for the meaning of economics in any economics book, never if not, seldom they emphasize this discipline as an art. “An art is a systematic study of knowledge which lays down specific solutions to…
INTRODUCTION TO ECONOMICS – III
III ECONOMCS – A SOCIAL SCIENCE ECONOMICS – A SOCIAL SCIENCE 1] In order to decide whether economics is a ‘science’ or an’ art’, it is necessary to understand the term ‘science. ‘ Science’ has been defined as “A…
Posted in General Economics
INTRODUCTION TO ECONOMICS – II
SOME IMPORTANT DEFINITIONS OF ECONOMICS: Economics has been defined in different ways by different economists.Some of the differences may reflect evolving views of the subject or different views among economists. I] The classical definition- The philosopher Adam Smith, the father…
INTRODUCTION TO ECONOMICS – I
ORIGIN OF ECONOMICS Economics is the social science that analyzes the production, distribution, and consumption of goods and services. Today the term economics is a part of common speech in everyone’s vocabulary. The term “economy,” from which we get “economics,”…
INDUSTRIAL POLICY AND INDUSTRIAL DEVELOPMENT IN INDIA.(Part-VI)
THE INDUSTRIAL POLICY RESOLUTION OF 1991. The Congress Government led by Mr Narasimha Rao announced the new Industrial Policy Resolution in July 1991. Aims of the Industrial Policy Resolution 1991. a] To unshackle the industrial economy from the cobwebs of…
INDUSTRIAL POLICY AND INDUSTRIAL DEVELOPMENT IN INDIA.(Part-V)
THE INDUSTRIAL POLICY RESOLUTION OF 1980. The Congress (I) Government announced its industrial policy resolution in July 1980. The 1980 policy endorsed the 1956 industrial policy and followed a pragmatic approach. The major aim of this policy was to regularize…
INDUSTRIAL POLICY AND INDUSTRIAL DEVELOPMENT IN INDIA.(Part-IV)
THE INDUSTRIAL POLICY RESOLUTION OF 1977. The new Janata Government which came to power at the centre in March 1977. It announced the New Industrial Policy 1977 with an emphasis on cottage and small scale sector. The main elements of…