Question

write the contribution and present growth rate of manufacturing sector in national economy. suggest measures to increase the industrial growth rate

Answer 1

Answer:

Contribution of manufacturing industry is as follows: It has helped in modernising agriculture by manufacturing tractors, tools and machines used in cultivation. It has reduced employment pressure on agriculture. It has brought in much needed foreign exchange.

To increase economic growth

   Lower interest rates – reduce the cost of borrowing and increase consumer spending and investment.

   Increased real wages – if nominal wages grow above inflation then consumers have more disposable to spend.

   Higher global growth – leading to increased export spending.

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Answer 2

Answer:

1)manufacturing sector is considered as the backbone of development in general and economic development in particular.

2)manufacturing sector has its share which has stagnated at 17% of GDP out of 27 % for the industry which includes 10% for mining caring electricity and gas.

3)the trend of growth rate over the last decade has been around 7% per annum since 2003 it has shown increase growth rate of 9 to 10% per annum but the desired growth rate over the next decade is 12%

4) the measures which could be taken to increase the industrial growth rate

• appropriate policy interventions by the government
• renewed efforts by the industries to improve productivity.

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