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Techno India NJR Institute of Technology

Charateristics Of Indian Economy

Submitted to :Miss. Tanu Verma

Submitted by:Mahendra SinghII Year,ECE

INDIAN ECONOMICS

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1. Origin of Economics

Our activities to generate income are termed as economicactivities, which are responsible for the origin anddevelopment of Economics as a subject.Originated as a Science of Statecraft. Emergence ofPolitical Economy.

Economy is concerned with the production, consumption, distribution and investment of goods and services.

Employement By Sector % 2015-16

3.Present Indian Economy

• In the present global, liberal and knowledge based environment, the understanding of economic issues has become quite indispensable for all sections in the society. Everyone wants to get rich, increase their wealth holdings, hold over productive resources and expand their business activities. So, people want to earn more and more profits

4.MAIN CHARACTERISTICS OF WEALTH DEFINITION

• (i) Exaggerated Emphasis on Wealth :

• (ii) Inquiry into the Creation of Wealth :

• (iii) A Study on the Nature of Wealth :

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CURRENT SECNARIORadio Spectrum is congested but the demand for wireless data double each year and everything it seems to use the wireless data but the capacity is going up

1.5 million base stations 5 billion mobile phones

5.MAIN CHARACTERISTICS OF MATERIAL WELFARE DEFINITION

• (i) Study of Material Requisites of well being

• (ii) Concentrates on the Ordinary Business of Life

• (iii) A Stress on the Role of Man

6.MAIN CHARACTERISTICS OF SCARCITY AND CHOICE DEFINITION

• Unlimited Want

• Limited Means

• Alternative Use of Resource

• Ecomomising Resource

SCARCITY AND CHOICE

7.MAIN CHARACTERISTICS OF DEVELOPMENT AND GROWTH DEFINITION

• (i) Growth-orientation

• (ii) Dynamic Allocation of Consumption

• (iii)Distribution of Consumption

• (iv) Improvement of Resource Allocation

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SCOPE OF ECONOMICS • We can list some of the major branches of economics as under

• (i) Micro Economics• (ii) Macro Economics• (iii) International Economics• (iv) Public Finance• (v) Development Economics• (vi) Health Economics• (vii) Environmental Economics• (viii) Urban and Rural Economics

CENTRAL PROBLEMS OF AN ECONOMY The problem of scarcity of resources which arises before

an individual consumer also arises collectively before an economy. On account of this problem and economy has to choose between the following:

• (i) What technique should be adopted for production?

• (ii) Which goods should be produced and in how much quantity?

• (iii) For whom goods should be produced?

Refrence• 1. Lionel Robbins,:Nature and Significance of Economics, 1932• 2. Alfred Marshall:Principles of Economics, 8th edition• 3. Kalyanjit Roy Choudhary:Modern Micro Economics

Thank You….