Home/economy.
- Recent Questions
- Most Answered
- Answers
- No Answers
- Most Visited
- Most Voted
- Random
- Bump Question
- New Questions
- Sticky Questions
- Polls
- Followed Questions
- Favorite Questions
- Recent Questions With Time
- Most Answered With Time
- Answers With Time
- No Answers With Time
- Most Visited With Time
- Most Voted With Time
- Random With Time
- Bump Question With Time
- New Questions With Time
- Sticky Questions With Time
- Polls With Time
- Followed Questions With Time
- Favorite Questions With Time
There any change in present Indian economy after British ruler were left India?
Indian economic conditions have changed very widely since its departure in the year 1947 from Britain. Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agricultureRead more
Indian economic conditions have changed very widely since its departure in the year 1947 from Britain.
Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agriculture production primarily for British colonies. Indian industry was not so well.
Post-Independence: India took to planned economic development where the emphasis is placed on the growth of the industries. It has provided opportunities for building up public sector undertakings also for the establishment of heavy industries.
Agrarian Reforms:
Land Reforms: This area underwent reforms with a plan to right the imbalances brought about because of land holding inequality and land getting into the hands of such poor farmers who have none.
Green Revolution: The green revolution of the 1960s and 1970s increased productivity in agriculture but created side effects related to environmental issues and reliance on chemical fertilizers.
Economic Liberalization:
1991 Reforms: India implemented the most important economic liberalizations in 1991. The Indian economy was opened up to foreign investment; government control would reduce and privatization at various levels would be promoted.
This led to economic growth with increased income inequalities and social effects.
Problems
Poverty and Inequality: Issues of poverty and inequality remain even after economic growth has been achieved.
Unemployment: Youth unemployment is extremely high and thus a big issue.
Infrastructure Development: It has improved but remains woeful in many aspects of infrastructural development, especially in the rural region.
Recent Trends:
See less-Heavy attention on Digital Economy: India is heavily focusing on digital economy with initiatives like “Digital India,” which focuses on making the country digitally literate and innovative.
-Rise of Service Sectors: It has emerged to be the most important sector showing an acceleration trend of the economic growth within India and among those sectors, it has been IT and IT-enabled services which have been the single most effective drivers.
Indian economy
At independence in 1947 Indian farming showed minimal progress and used outdated techniques. The farming sector provided income for many Indians yet output remained low because farmers used traditional techniques without irrigation and maintained their crops only through monsoon rain. The zamindarsRead more
At independence in 1947 Indian farming showed minimal progress and used outdated techniques. The farming sector provided income for many Indians yet output remained low because farmers used traditional techniques without irrigation and maintained their crops only through monsoon rain. The zamindars held legal rights to the land and peasants faced unfair treatment without any rights. The 1943 Bengal Famine made everyone see how routine food shortages across the country could put millions at risk of starvation. Post-Independence Agricultural Reforms
1. Land Reforms: Our government needs to remove the Zamindari system and reform tenancy rules to transfer farming lands directly to workers who cultivate them. States executed these reforms in their own way but several did not succeed effectively.
2. Community Development Programmes: The program started in the 1950s to improve rural life and farm methods.
3. The Green Revolution (1960s): The combination of improved seeds, fertilizer and irrigation system in Punjab, Haryana and Uttar Pradesh brought India from being food inadequate to delivering excess food production.
4. Irrigation and Infrastructure: The construction of major irrigation projects at Bhakra Nangal and rural roads created new opportunities for better farming inputs and market access.
5. Institutional Support: A network of agricultural universities and research facilities were formed to educate farmers and distribute useful agricultural knowledge throughout the country.
End
After independence new agricultural reforms built the groundwork for major changes across India’s farming systems. Higher agricultural yields characterize the Green Revolution but uneven growth between areas and poor water management harmed the environment. Farm ownership changes in land reforms created new structure rules however socialequality remained unchanged. To achieve sustainable growth we need policies that fix these issues and drive technological advances that make farms more resistant to climate change while treating all stakeholders fairly.
See lessArtificial Intelligence
It can be stated that Artificial Intelligence (AI) is going to bring a paradigm shift to the Indian economy. It has the potential to enhance the productivity of various industries such as manufacturing, healthcare, and finance, among others, by the automated performance of repetitive tasks. This wilRead more
It can be stated that Artificial Intelligence (AI) is going to bring a paradigm shift to the Indian economy. It has the potential to enhance the productivity of various industries such as manufacturing, healthcare, and finance, among others, by the automated performance of repetitive tasks. This will achieve cost efficiencies and operational effectiveness leading to enhanced economic growth. Very large sets of data can also be processed through analysis to provide AIe a data driven approach which makes it possible to develop effectiveness without having to rely on the data that act ic.
Yet, growing dependency on AI technologies and applications also has its disadvantages. One of these is the ‘jobless society problem’ as people will not have jobs due to mechanization processes in some industries carried out by machines. Another challenge arises from gender inequality which arises from UAs, as these technologies can equally enhance the current socio-economic differences in society. Gender bias within the operational processes and the AI tools is worrisome as it will lead to division due to fairness in processes among people. Issues with AI systems come down to also the issue of how secure and private the users especially those with sensitive information will be.
To maximise the benefits while reducing the negative implications of AI, a strong regulatory approach is needed to support innovative yet ethical practices in India. Preparing the current labour for the inevitable changes in work processes in the next era will require spending the next few years on AI training and skill acquisition. The most important factor in creating best practices for AI is the cooperation of government, business, and educational structures and their joint involvement in AI. Solutions to the above observed problems will allow India to become a key player in the worldwide movement of artificial intelligence.
See lessExamine the role of human activities, such as unregulated construction and tourism, in exacerbating the risks of natural disasters in Kedarnath. What measures can be taken to promote sustainable development in such ecologically sensitive areas?
Human activities such as unregulated construction and tourism have heightened the risk of natural calamities in ecologically fragile regions like Kedarnath. Rampant construction without proper appraisal of environmental impact has resulted in deforestation and soil erosion, and has also interfered wRead more
Human activities such as unregulated construction and tourism have heightened the risk of natural calamities in ecologically fragile regions like Kedarnath. Rampant construction without proper appraisal of environmental impact has resulted in deforestation and soil erosion, and has also interfered with natural water drainage systems, increasing the susceptibility of the area to landslides, floods and other natural disasters. The devastating Kedarnath flood disaster in 2013 brought this into focus when haphazard buildings and roads compounded the loss of lives and property.
Tourism though economically beneficial, has caused too much environmental degradation in the region. The inflow of visitors makes it necessary to put up a lot of infrastructure which in turn consumes large tracts of natural habitats and also generates more waste, thus polluting the environment further.
To achieve sustainable development in such regions, it is of primary importance to enforce environmental laws. Construction in general, must be limited and if at all undertaken then only using eco-friendly practices. Similarly, promotion of eco-tourism involves locals and reduces environment impacts. Reforestation should be promoted at construction sites, waste should be properly disposed off and sustainable construction materials should be used.
See lessDiscuss the role of the G20 in shaping global economic policies. How do both advanced and emerging economies influence and contribute to the G20’s objectives? Provide examples of key initiatives or agreements that have emerged from G20 meetings and analyze their impact on the global economy.
The G20 plays a pivotal role in shaping global economic policies by providing a platform for advanced and emerging economies to collaborate on addressing major global challenges. It influences financial stability, economic growth, and sustainable development through dialogue and policy coordination.Read more
The G20 plays a pivotal role in shaping global economic policies by providing a platform for advanced and emerging economies to collaborate on addressing major global challenges. It influences financial stability, economic growth, and sustainable development through dialogue and policy coordination.
Advanced Economies: Countries like the US, EU, and Japan contribute their economic expertise, technological advancements, and substantial financial resources. They push for regulatory standards, trade liberalization, and innovation in financial systems.
Emerging Economies: Nations like China, India, and Brazil bring perspectives on growth challenges, poverty reduction, and economic integration. They advocate for equitable growth, infrastructure development, and fair trade practices.
Key Initiatives:
1. Global Financial Crisis (2008): The G20 coordinated a stimulus package exceeding $1 trillion, stabilizing the global economy.
2. Base Erosion and Profit Shifting (BEPS) Initiative: This aimed to tackle tax avoidance by multinational corporations, ensuring fairer tax systems.
3. Paris Agreement (2015): G20 members committed to climate action, influencing global environmental policies.
Impact: These initiatives have enhanced global financial stability, improved tax compliance, and promoted sustainable development, showcasing the G20’s crucial role in global economic governance.
See lessEvaluate the effectiveness of the Pradhan Mantri Fasal Bima Yojana (PMFBY) in providing crop insurance to farmers. What are the challenges faced in its implementation, and how can it be improved?
Effectiveness of Pradhan Mantri Fasal Bima Yojana (PMFBY): 1. Increased Coverage and Awareness: PMFBY has significantly increased the coverage of crop insurance among farmers, providing financial protection against crop losses due to natural calamities. The scheme has raised awareness about the impoRead more
Effectiveness of Pradhan Mantri Fasal Bima Yojana (PMFBY):
1. Increased Coverage and Awareness:
PMFBY has significantly increased the coverage of crop insurance among farmers, providing financial protection against crop losses due to natural calamities.
The scheme has raised awareness about the importance of crop insurance and risk mitigation in the agricultural sector.
2. Timely Compensation Payments:
PMFBY aims to provide timely compensation to farmers in case of crop damage, offering quick relief and financial support during distress.
Farmers have reported receiving compensation more promptly compared to previous insurance schemes.
3. Premium Subsidies and Affordability:
The scheme offers premium subsidies to make crop insurance affordable for farmers, reducing their financial burden in availing insurance coverage.
Subsidies under PMFBY have made crop insurance more accessible to small and marginal farmers.
Challenges in Implementation:
1. Delayed Settlement of Claims:
One major challenge faced in the implementation of PMFBY is the delayed settlement of insurance claims, causing financial distress to farmers during critical times.
Streamlining claim assessment processes and improving coordination among stakeholders can help address this issue.
2. Lack of Transparency and Accountability:
Transparency issues in premium calculations, claim settlements, and grievance redressal mechanisms have been reported, leading to mistrust among farmers.
Implementing mechanisms for transparent data sharing, audit trails, and independent oversight can enhance accountability in the scheme.
3. Regional Disparities and Coverage Gaps:
Disparities in coverage and benefits across regions, crops, and farmers have been observed, limiting the effectiveness of the scheme in reaching vulnerable populations.
Tailoring insurance products to address specific regional risks and diversifying coverage options can help bridge these gaps.
Improvement Strategies:
1. Strengthening Risk Assessment and Data Analytics:
Enhancing the use of technology, satellite data, and machine learning algorithms for accurate risk assessment and timely claims processing.
Leveraging data analytics to predict crop losses and customize insurance products based on regional vulnerabilities.
2. Capacity Building and Awareness Campaigns:
Conducting training programs for farmers, insurance agents, and government officials to improve understanding of the scheme and its benefits.
Launching targeted awareness campaigns to reach marginalized farmers and promote uptake of crop insurance.
3. Simplifying Processes and Grievance Redressal:
Simplifying insurance procedures, claim filing, and grievance redressal mechanisms to make the scheme more farmer-friendly and efficient.
See lessEstablishing dedicated helplines, online portals, and mobile applications for easy access to information and support.
By addressing these challenges and implementing improvement strategies focused on transparency, efficiency, inclusivity, and technological innovation, the Pradhan Mantri Fasal Bima Yojana (PMFBY) can further enhance its effectiveness in providing crop insurance to farmers and mitigating risks in the agricultural sector.
Critically examine the role of groundwater depletion in exacerbating the water crisis in Delhi and Bangalore. What measures can be implemented to manage groundwater resources more sustainably?
India being the largest consumer of groundwater accounting a major chunk i.e around 25% of the total world's groundwater withdrawal which indicates a great dependency on it, and so its depletion will lead to various problems, as megacities like Bangalore and delhi are facing major shortage of waterRead more
- Due to the deforestation in the megacities,the groundwater is not getting recharged as its depleting
- Wetlands encroachments
- No strict conservation policies of water recharging
- Climate change is also exacerbating this crisis as high temperature are responsible for more evaporation
- Way forward
- A stringent policy should be there for the overall recharging of the aquifers through promising methods like rainwater harvesting and various traditional methods
- Community awareness campaign can play a major role in generating awareness
- Wetlands conservation programme should be there
- Sustainable use of groundwater resources should be encouraged
- Being the largest consumer and catering the largest population of the world we should think of this challenging problem and implement the strategic management of not only the groundwater but all sources of water.
See lessAnalyze the potential impact of the Agnipath scheme on India's military readiness and modernization. How might the short-term nature of the Agniveer tenure affect the armed forces' operational capabilities?
The Agnipath scheme, which introduces a short-term tenure for soldiers known as Agniveers, aims to modernize and streamline the Indian military. However, this approach might have mixed impacts on military readiness and modernization. On one hand, the scheme could enhance operational efficiency by brRead more
The Agnipath scheme, which introduces a short-term tenure for soldiers known as Agniveers, aims to modernize and streamline the Indian military. However, this approach might have mixed impacts on military readiness and modernization.
On one hand, the scheme could enhance operational efficiency by bringing in younger, tech-savvy recruits who are more adaptable to modern warfare requirements. It also promises to reduce the long-term financial burden on the defense budget by cutting down on pension liabilities. On the other hand, the short tenure may compromise the development of experienced and seasoned personnel essential for high-stakes operations and leadership roles.
The constant influx of new recruits could lead to a lack of continuity and depth in military expertise, potentially affecting strategic planning and execution. Furthermore, the need for frequent training and reorientation of new recruits might strain resources and affect operational readiness in the short term. Thus, while the Agnipath scheme could drive modernization, its impact on the effectiveness and stability of the armed forces might pose challenges that need careful management.
See lessDiscuss the major environmental and socio-economic challenges faced by the state of Kerala. How has the state government addressed these challenges through its policies and initiatives? Include an analysis of the effectiveness of these measures.
Kerala faces significant environmental and socio-economic challenges. The state’s hilly areas, like wayanad, are highly susceptible to landslides, especially during the monsoon season. The recent landslide in wayanad, one of the deadliest, caused major loss of life and injuries. Coastal areas are alRead more
Kerala faces significant environmental and socio-economic challenges. The state’s hilly areas, like wayanad, are highly susceptible to landslides, especially during the monsoon season. The recent landslide in wayanad, one of the deadliest, caused major loss of life and injuries. Coastal areas are also at risk due to rising sea levels and erosion. Kerala faces some tough socio-economic problems, including low human development indicators and a high population density. It’s challenging to balance development with protecting the environment. The state government has taken steps to address these issues. For example, the state action plan on climate change is meant to tackle climate problems, but it needs to be properly put into action to work effectively. The state also responds to calamities with effective rescue and relief activities, and expenditures in health and education have resulted in increased general well-being. However, issues remain. Despite warnings, some people continue to live in high-risk locations, demonstrating gaps in risk communication. Properly executing climate action strategies is critical to long-term success. The latest landslide emphasizes the critical necessity for preemptive actions to protect lives and mitigate environmental threats.
See lessHow can India address it's urbanization challenges and create sustainable and liveable cities.
For the formation of good and work-efficient cities in India, understanding and solving the problems of the country from both the point of view of strategizing and quantitative analysis is necessary. Here is a structured response incorporating the key points:Here is a structured response incorporatiRead more
For the formation of good and work-efficient cities in India, understanding and solving the problems of the country from both the point of view of strategizing and quantitative analysis is necessary. Here is a structured response incorporating the key points:Here is a structured response incorporating the key points:
1)Urbanization and Economic Impact
Urbanization and Economic Growth
A one-per cent change in the urban population represents a huge economic effect; thus, the planning of cities is very important.
Infrastructure and Technology Integration
Smart Structures and Technology
Hence, methods of IoT and AI should be applied rightly for developing good commodities and for a long run business growth in India.
Thus, smart structure requirements are imperative for the promotion of sustainable cities.
2)Public Infrastructure and Productivity
Public Infrastructure Benefits
See lessPublic infrastructure investment doubling the traffic reduces it by one-fifth; this way productivity increase by 2%.
The provision of public transit has a significant economic impact because daily spending results in making four times that amount.
3)Housing and Economic Models
Affordable Housing
According to the calculation, it is approximated that India has 78 million poor habitants in the urban area of inadequate housing.
Through the development of affordable houses, which government spends a lot of cash a lot on, the poverty levels among the people dwelling in urban areas can be greatly improved. For instance the Prime Minister’s Housing Plan, entails the construction of 20 million dwelling houses by 2022, thereby cutting down the poverty levels by 0.5 percent.
Environmental and Energy Consideration
GHGs and UHIs
The rate of urban greenhouse gas emissions is directly proportional to the heat island which in turn is inversely proportional to the level of cooling intensity such that an increase in the former also leads to a 3 % increase in the latter – if the measure of control is 10%.
Conclusion
Therefore, it is possible for India to build sound and operative cities through enhancing the mentioned areas that include urbanization, smart infrastructure, public investment, affordable housing, and the environment.