AI can address global challenges like climate change and poverty reduction as follows: 1.) For climate change: a.) AI models can provide us with the pattern of weather and help us in disaster prevention or management. b.)AI models can track the environment and help in getting the data for deforestatRead more
AI can address global challenges like climate change and poverty reduction as follows:
1.) For climate change:
a.) AI models can provide us with the pattern of weather and help us in disaster prevention or management.
b.)AI models can track the environment and help in getting the data for deforestation and provide us with animal data so as to make policies to protect them.
c.)With the help of AI we can enhance the renewable sources of energy.
d.)AI is being used to help companies in the metal and mining, oil, and gas industries to decarbonize their operations.AI then analyzes this data to help companiestrack and reduce by 20-30%.
2.)For poverty reduction:
a.)With AI learning something is easier, people get personalised recommendations for their material.
b.)AI can match job seekers with suitable employment opportunities and provide personalised training programs to bridge skill gaps, helping them be independent.
c.)AI can assist farmers in increasing crop yields through precision agriculture, which uses data on weather, soil, and crop conditions to optimize planting and harvesting times. This can lead to more efficient use of resources and higher productivity.
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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.