Measures to promote growth - structure of national income, Microeconomics


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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