Dualism in indian society and problems of uneven income distribution
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Dualism in Indian Society:
Dualism is the division of resources in different sectors of the economy. It is the availability of resources depending on the economic conditions of the sector. For example the availability of technology, raw material etc according to the scale of a business.
Dualism is prevalent in the Indian society, as economic divide exists in this society. Small scale sectors of business lack resources however, large scale sectors has all the required resources.
This results in lack of productivity and eventually effects the economic growth of the country. In order to increase productivity, India needs to get rid of dualism in social, political and economic sectors.
Uneven Distribution of Income:
Uneven income distribution is the difference in income of different sectors of the society. That is when some professionals are paid more as compared to the other. For example; a doctor is paid more than a painter etc.
There are several problems that are caused by unequal distribution of income. They are:
(i) Lack of productivity.
(ii) Lack of economic growth.
(iii) Constant GDP or decrease in GDP.
(iv) Difference in buying/purchasing power of people.
(v) Difference in social and political standing of people.
(vi) No improvement in the living standard of the people.
(vii) Imbalance of balance of payment and trade.
Dualism is the division of resources in different sectors of the economy. It is the availability of resources depending on the economic conditions of the sector. For example the availability of technology, raw material etc according to the scale of a business.
Dualism is prevalent in the Indian society, as economic divide exists in this society. Small scale sectors of business lack resources however, large scale sectors has all the required resources.
This results in lack of productivity and eventually effects the economic growth of the country. In order to increase productivity, India needs to get rid of dualism in social, political and economic sectors.
Uneven Distribution of Income:
Uneven income distribution is the difference in income of different sectors of the society. That is when some professionals are paid more as compared to the other. For example; a doctor is paid more than a painter etc.
There are several problems that are caused by unequal distribution of income. They are:
(i) Lack of productivity.
(ii) Lack of economic growth.
(iii) Constant GDP or decrease in GDP.
(iv) Difference in buying/purchasing power of people.
(v) Difference in social and political standing of people.
(vi) No improvement in the living standard of the people.
(vii) Imbalance of balance of payment and trade.
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Answer:
. Uneven Distribution of Income: Uneven income distribution is the difference in income of different sectors of the society.
- There are several problems that are caused by unequal distribution of income.
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