Discuss the importance of Capital Formation in development, while throwing light on key obstacles to capital formation in underdeveloped economies from demand and supply side.

Hint: Capital includes only those means of production which are produced by man. For example – Plant and machinery tools and instruments. The capital formation means addition to the existing stock of capital. To generate good capital formation there must ..

Discuss the role of capital formation in India's economic development. Would you agree with this view that domestic saving constitute enough potential for development?

Hint: Capital formation is necessary for a productive economy. Domestic savings are prerequisites for that. In India, the domestic saving lacks enough potential to generate higher capital. More than 40 percent of the country people are daily wage earners and ..

The e-commerce has grown at an exponential rate in fast few years in India, along with that the need for a comprehensive policy on e-commerce has also grown to safeguard India’s interests globally. Discuss.

E-commerce is defined as virtual selling-buying of goods via electronic medium without physical initiation between seller and buyer. Issues and need for e-commerce policy: Smoothen out taxation glitches in the era of GST (states want more control of goods sold ..

Highlight the hurdles faced by agricultural extension services in India. Also, explain how Krishi Vigyan Kendras (KVKs) can help to strengthen National Agricultural Research Extension System.

Agricultural extension is the process of providing informal advice to the farmers so that they can improve their income by changing farming methods, cropping pattern and input usage based on scientific advice. Problems with agricultural extension: Reach – All farmers ..

Distinguish between 'economic development' and 'economic growth'. What are the factors which determine economic development?

Differences between Economic Growth and Economic Development Economic growth is a narrow concept (It studies only increase in real per capita income) while economic development is a broad concept (it studies increase in real per capita income as well as ..

What are the main characteristics of a developing economy? To what extent are they found in Indian Economy?

Hint: The main characteristics of a developing economy are: Low per Capita Income; Slow Growth Rate of Per Capita Income; Economic Inequalities; Low Level of Living; Low Rate of Capital Formation; Backward Techniques of Production; High Growth Rate of Population ..

A well-developed food processing industry will not only help in achieving the food security goal, but will also promote inclusive growth. Discuss. Also, highlight the competitive advantage that India posses in this sector.

Food processing industry provides a significant possibility to achieve the twin goals of inclusive growth and food security. Significance: Enables crop diversification and improved revenue for farmers. Increases shelf life of food items. Prevents wastage and distress selling by farmers. ..

Discuss the efforts towards economic planning in India during the Pre-independence Period.

Model Answer: Idea of planned economy was first crystallized in 1930s when our national leaders came under the influence of socialist philosophy. India’s Five year plans were very much impressed by the rapid strides achieved by the USSR through five ..