First of all the idea of planned economy was crystallized in 1930s when our national leaders came under the influence of socialist philosophy. India’s Five year plans were...
Economic Planning refers to any plans of economic activity which point to achieve specific social and economic outcomes. The planning mechanism involves the specific economic or social outcomes....
‘Unity in diversity’ is a fundamental characteristic of India. The growth pattern of Indian Economy has reflected in various dimensions of social, economic, political, geographical, religious, cultural and...
Gini coefficient represents the income distribution of a country’s residents. It was developed by the Italian statistician and sociologist Corrado Gini. It measures the inequality. The coefficient ranges...
Inclusive growth has been defined differently by different organizations and scholars. The dictionary meaning of the term “inclusive” is “comprehensive”, “including all extremes” and “not excluding any section...
Human capital refers to stock of ‘skill and expertise’ embodied in humans. Human capital is as important as physical capital for economic development. Human capital formation is the...
Development of a nation without the availability of adequate capital either in the form of physical capital or in the form of human capital is not possible. The...
The process of development depends on a host of factors like natural resources, physical and human capital, technology, socio-politico-economic structure of the country. Determinants of development are broadly...
World Development Report categorizes economies on the basis of income in three categories viz. high income, middle income and low income economies. Usually, high income countries are known...
Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Thus, it takes into account...
