Good morning. ..... my question is like this...
1. What is hundi ? Why is it illegal?
2.Write any two features of economic planning.
And, if u have time.. please answer my questions which are in my profile. .... I will mark ur all answers brainlist n follow you as well...
Answers
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Answer:
Meaning and Types of Hundis. A Hundi is a negotiable instrument written in an oriental (vernacular) language. The term 'Hundi' includes all indigenous negotiable instruments whether they are in the form of notes or bills. ... It means that Hundis were used as means of collection of debts.......But having said that, the very fact that hundi is an informal and illegal business means that the people who choose to use hundi are prone to significant risk. The act of engaging in hundi is already illegal as per the law of the land and hence the transacting parties risk being apprehended.
(i) Definite Objective:
The most significant characteristic of economic planning is that it should possess definite objectives. Planning means conscious and deliberate undertaking for a definite objective. For instance, economic planning has the objective to accelerate the rate of growth, elimination of trade cycles, bringing the stability and a attain full employment in the economy.
(ii) Central Planning Authority:
The existence of a central planning authority is another feature of economic planning. This central planning authority is responsible to prepare different schemes of development and coordinating the various activities. The central planning authority takes all decisions relating to production and consumption in an economy.