Measures to promote growth - structure of national income, Microeconomics

MEASURES TO PROMOTE GROWTH:

In view of the recent global experience, the following steps need be taken to accelerate the rate of growth. 

1) Mastering and constantly improving process technology with just-in-time inventory systems, inter-active supplier relationships, total quality management (getting it right the first time to economise on inspection, reworking, retesting and warrantly claims), a production system driven by computer-aided design/manufacture, rapid retooling processes and delivering enhanced product value at the lowered costs which follow economies of scale.  

2) Focussing on seven key sectors: microelectronics, biotech, polymers, telecom, robotics and 'smart' machine tools, information technology and civil aviation.  

3) Practising economic discipline with a high savings rate to generate capital.  

Posted Date: 11/10/2012 3:13:39 AM | Location : United States







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