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

STRUCTURE OF NATIONAL INCOME: The structure or composition of national income of an economy explains the relative significance of the different producing sectors in an economy

SHORT PERIOD ANALYSIS: Short period in production refers to a time when some inputs remain fixed. A fixed input is one, whose quantity cannot be changed readily, whereas, a va

Show that when a plane wave is transmitted through a thin lens of focal length f in the direction parallel to the optical axis of the lens, its converted into a paraboloid wave (th

Estimating the Educational Structure of the Labour Force in the Economy for the Target Year The educational levels of persons within each occupational structure for the base y

Estimating and Predicting Cost * Estimates of future costs can be obtained from a cost function, which relates cost of production to level of output and other variables which t

Niche Operators: It is assessed by TRAI that despite the USO support, existing big service providers would not be interested to serve about 50 per cent of the villages. To add

Ask question how do I find the Price

Q. What do you meant by Payroll Tax? Payroll Tax:A tax which is levied on current employment or payrolls (collected either as a fixed amount per employee or as a percentage of

Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo