Economy

The principal function of planning, especially in a federal system, is to evolve a shared vision of and commitment to the national objectives and development strategy not only in the government at all levels, but also among all other economic agents. NITI Aayog acts as the quintessential platform of the Government of India to bring … Read more

First Plan (1951 – 56) Target Growth : 2.1 % Actual Growth 3.6 % It was based on Harrod-Domar Model. Influx of refugees, severe food shortage & mounting inflation confronted the country at the onset of the first five year Plan. The Plan Focussed on agriculture, price stability, power and transport It was a successful … Read more

Decentralized Planning is a type of planning where local organisations and institutions formulate, adopt, execute actions and supervise the plan without interference by the central body. Decentralized planning in the State operated mainly through the following institutions and instruments; Grama Sabha (GS): People’s participation in decentralization was sought to be ensured mainly through meetings of … Read more

India is the third largest producer of cereals, with only China and the USA ahead of it. India occupies the first position in milk production and is the third largest producer of fish and second largest producer of inland fisheries in the world. According to ministry of Agriculture ,India is likely to produce a record … Read more

The founding fathers of our Constitution desired to secure justice, social, economic and political for all citizens. They realized that the inequitable forces embedded in the socio-economic system and also political organizations, had resulted in deprivation and disadvantages for the poor and the weaker sections of the society. They, therefore, considered it necessary to provide … Read more

The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an international financial institution whose purposes include assisting the development of its member nation’s territories, promoting and supplementing private foreign investment and promoting long-range balance growth in international trade. The World Bank was established in December 1945 at the … Read more

Human Poverty Index (HPI) The Human Poverty Index (HPI) was first introduced into the Human Development Report by the United Nations Development Programme (UNDP) in 1997 in an attempt to bring together in a composite index the different features of deprivation in the quality of life to arrive at an aggregate judgement on the extent … Read more

The World Bank defines poverty in absolute terms. The bank defines extreme poverty as living on less than US$1.90 per day> (PPP), and moderate poverty as less than $3.10 a day. Types of Poverty Absolute poverty measures poverty in relation to the amount of money necessary to meet basic needs such as food, clothing, and … Read more