A SPEECH ON THE DEVELOPMENT OF INDIA
Answers
Favourable macroeconomic performance has been a necessary but not sufficient condition for the significant reduction of poverty amongst the Indian population. The rate of poverty decline has not been higher in the post-reform period (since 1991)[citation needed]. The improvements in some other non-economic dimensions of social development have been even less favourable. The most pronounced example is an exceptionally high and persistent level of child malnutrition (46% in 2005–6).[5]
The progress of economic reforms in India is followed closely. The World Bank suggests that the most important priorities are public sector reform, infrastructure, agricultural and rural development, removal of labour regulations, reforms in lagging states, and HIV/AIDS.[6] For 2018, India ranked 77th in Ease of Doing Business Index. According to Index of Economic Freedom World Ranking an annual survey on economic freedom of the nations, India ranks 123rd as compared with China and Russia which ranks 138th and 144th respectively in 2014.
At the turn of the century India's GDP was at around US$480 billion. As economic reforms picked up pace, India's GDP grew five-fold to reach US$2.2 trillion in 2015 (as per IMF estimates).
India's GDP growth during January–March period of 2015 was at 7.5% compared to China's 7%, making it the fastest growing economy.[7][8][9] During 2014–15, India's GDP growth recovered marginally to 7.3% from 6.9% in the previous fiscal. During 2014–15, India's services sector grew by 10.1%, manufacturing sector by 7.1% & agriculture by 0.2%. Indian Economy Grows at 7.6 & 7.1 in FY 2015–16 and FY 2016–17 Respectively as Major Reforms had Been Taken Place like Demonitisation and Implementation of GST in FY 2016–17 the Economic Growth has Been Slow Down in 2017–18 as it is Expected to Grow at 6.7 and Forecasted to Rebound by 8.2% in 2018–19.
Contents
Agriculture Edit
Main article: Agriculture in India
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight
India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce[10] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India. Yields per unit area of all crops have grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since the green revolution.[citation needed]
India is the largest producer in the world of milk, cashew nuts, coconuts, tea, ginger, turmeric and black pepper.[11] It also has the world's largest cattle population (193 million).[12] It is the second largest producer of wheat, rice, sugar, groundnut and inland fish.[13] It is the third largest producer of tobacco.[13] India accounts for 10% of the world fruit production with first rank in the production of banana and sapota, also known as chiku.[13]
The required level of investment for the development of marketing, storage and cold storage infrastructure is estimated to be huge. The government has implemented various schemes to raise investment in marketing infrastructure. Amongst these schemes are Construction of Rural Go downs, Market Research and Information Network, and Development / Strengthening of Agricultural Marketing Infrastructure, Grading and Standardisation.[14]
Main problems in the agricultural sector, as listed by the World Bank, are:[15]
India's large agricultural subsidies are hampering productivity-enhancing investment.
Overregulation of agriculture has increased costs, price risks and uncertainty.
Government interventions in labour, land, and credit markets.
Inadequate infrastructure and services.
Research and development Edit
The Indian Agricultural Research Institute (IARI), established in 1905, was responsible for the research leading to the "Indian Green Revolution" of the 1970s. The Indian Council of Agricultural Research (ICAR) is the apex body in kundiure and related allied fields, including research and education.[16] The Union Minister of Agriculture is the President of the ICAR. The Indian Agricultural Statistics Research Institute develops new techniques for the design of agricultural experiments, analyses data in agriculture, and specialises in statistical techniques for animal and plant breeding. Prof. M.S. Swaminathan is known as "Father of the Green Revolution" and heads the MS Swaminathan Research Foundation.[17] He is known for his advocacy of environmentally sustainable agriculture and sustainable food security.
Answer:
A SPEECH ON THE DEVELOPMENT OF INDIA
Explanation:
An economist and an administrator will take upon these changes as a sign of increasing social welfare. But an average person has his own way of judging the economic development. He is primarily concerned with the betterment of his own lot. A Government exists for people; it exists and functions for the good of the common people.
The economists simply guide the government to enable it to serve the interest of the common people. But what is the position of common people today? The answer is clear; the average person, today, is neither materially better off nor mentally, as well as, psychologically happier than what he was under the alien rule in the country.
Along with the huge economic development, prices of all consumer-goods are soaring dreadfully and there are many classes of people whose incomes have relatively fallen. Food, the primary necessity of life, is becoming dearer and dearer. It seems that the rising prices would help the agriculturists. However, in the long run, he, too, must suffer, sharing with his brethren the common miseries of life.
Of course, it is necessary for a growing country to borrow money; the international situation is such that foreign powers willingly lend us money. From, where has money to come for the repayment of all our debt? We are hoping for a greatly increased productivity of our economy. But it must be noted that it is the debt.
Our Government is proud of the great industrial plants which have started functioning under the Plans, and more are to be established under the new Plan. For example, we have mighty steel and power plants in various parts of the country. But the failure to move requisite quantities of coal to the plants has been adversely commented upon