Question

Write any three effects of economic growth on the people of India.​

Answer 1

The economic growth rate in India has some positive and some negative effects.Positive effects:1.It helped in the reduction of poverty to a great extent.The occurence of famine and other such circumsances have been bought under control.2.The living standards of people has risen up to a considerable extent.

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Answer 2

Answer:

Persons are means as well as ends of economic development. They are an asset if in adequate strength and prove to be a liability if excess in strength.

Population has crossed the optimum limit in India and has become a liability.

So problem of population explosion in India has proved to be a big hindrance in the success of economic planning and development.Indian population is growing at a rate of 1.8 percent per annum. In order to achieve a given rate of increase in per capita income, larger investment is needed. This adversely affects the growth rate of the economy. In India, annual growth rate of population is 1.8 percent and capital output ratio is 4:1. It means that in order to stabilize the existing economic growth rate (4 X 1.8) = 7.2 percent of national income must be invested.