Comparison with other countries, Microeconomics

Comparison with Other Countries:

The basic purpose of this type of comparison is that:

(i) it helps us to know the potentials of growth that can be built up in an economy, and

(ii) it helps us in a more meaningful evaluation of our performance. 

1) The growth rate in India has been among the lowest in the group of fast developing countries included here. 

2) An encouraging feature is that whereas in other countries, the growth rates tended to slow down during the 1980s and the 1990s as compared to that during the 1970s, the growth rate in India, as in neighbouring Pakistan and China, accelerated during the period. 

Thus, we reach the unhappy conclusion that the rate of growth of national income in India has been far from satisfactory. Further, it has not only been inadequate, but what is worse is that the incremental income accruing to the nation all these years has concentrated in a few hands. In consequence thereof, disparities in income have widened. Jagdish Bhagwati rightly puts it as:  "It is now clear that India's economic performance, while a definite improvement over that in the pre-independence period, is less than satisfactory when one takes the 'capitalistic' index of growth rates or the 'socialist' indices of eradication  of poverty and reduction of income inequality." 

Posted Date: 11/10/2012 3:11:30 AM | Location : United States







Related Discussions:- Comparison with other countries, Assignment Help, Ask Question on Comparison with other countries, Get Answer, Expert's Help, Comparison with other countries Discussions

Write discussion on Comparison with other countries
Your posts are moderated
Related Questions
Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th

Consumer Behavior The description of how consumers allot their resources (income) to the purchase of various goods and services to get maximum in their well being. There a


Is coca-cola an oligopoly or monopolistic competition

what are the criticisms of modern theory of rent?

uses of time series in indian economy

Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n

Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product

please can you explainn what "down 0.1 percentage point on the quarter means"?

technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti