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ASSIGNMENT
| DRIVE | FALL 2015 |
| PROGRAM | BBA |
| SEMESTER | V |
| SUBJECT CODE & NAME | BBA 503 ECONOMIC PLANNING AND POLICIES |
| CREDIT | 4 |
| BK ID | B1851 |
| MAX.MARKS | 60 |
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Q1. Differentiate between development and growth.
Answer: Growth and development get lumped together so frequently, it can be easy to assume that they go hand in hand and happen at the same time.
Growth
To put it simply, when something grows in shows an increase in something you can count. A tree can grow. That means that it adds to its height. We can count the inches it has grown. An organization can grow, adding people or other groups to itself. These are counted very easily. Profit can grow, adding money in different ways.
None of this takes into account how it grows. Growth doesn’t look into what it took to add to its height or its numbers or its bank statement. Growth is only shown through the evidence of it happening. The tree may have been fertilized, accelerating its natural
Q2. Discuss the role of agriculture and industry in growth and economic development of India.
Answer: Economic growth and development is highly important for improvement in the quality of life of the people of any country. Growth means positive change in the level of production and services by a country over a certain period of time. The most widely used measure of economic growth is the real rate of growth in a country’s total output of goods and services indicated by gross product adjusted for inflation or real GDP. National per capita income and consumption per capita are also used for measuring growth.
Q3. Explain the objectives of economic planning in India.
Answer: Indian plans have been concerned with the removal of economic backwardness of the country and make it a developed economy. They have also taken care to ensure that the weaker sections of the population benefit from the economic progress of the country. Some successes have indeed been achieved in all these spheres.
But all is not well with the plans. In this section, we describe the objectives set before the plans, and assess their rationale and logic. We will also discuss the extent to which these objectives have been achieved.
Q4. Discuss the indicators in order to explain the role of public sector in Indian Economy.
Answer: Prior to 1947, there was virtually no “public sector” in India. The only instances worthy of mention were the Railways, the Posts and Telegraphs, the Port Trusts, the Ordnance and Aircraft Factories and a few state managed undertakings like the Government Salt factories, Quinine factories, etc.
The idea that economic development should be promoted by the State actually managing industrial concerns did not take root in India before 1947, even though the concept of planning was very much discussed by Congress Governments in the Indian provinces as
Q5 Identify various schemes launched by the government to reduce unemployment and underemployment. Explain any 2 in detail.
Answer: The main objective of rural development has been to remove poverty of the people and fill the widened gap between the rich and the poor. This has been also vocalized in the policy of the government which says: said, ‘Rural poverty alleviation has been the primary concern in the economic planning and development process of the country … rural development which encompasses the entire gamut of improvement in the overall quality of life in the rural areas can be achieved through eradication of poverty in rural areas.’
Keeping in view the planning policy in mind, various schemes of development, especially the development of agriculture, the main occupation of the rural people, have been introduced.
The major early programmes were:
- Intensive Agricultural Area Programme (LAAP)
- Intensive Agricultural District Programme (IADP)
- High Yielding Varieties Programme (HYVP)
- Rural Industries Projects and Rural Artisans Programmes (RIP and RAP)
- 20-Point Programme:
This has been a major programme of rural development encompassing various aspects of rural people. This programme is associated with former Prime Minister Indira Gandhi, who introduced it in July 1975 for reducing poverty and economic exploitation and for the uplift of weaker sections of society. She gave the slogan ‘Garibi Hatao’ during parliamentary elections.
The important goals of this programme were:
- Welfare of the rural masses.
- Increase in rural employment.
- Minimum wages to landless labourers.
- Integrated Rural Development Programme (IRDP):
The programme was launched by the Centre in March 1976 as a major instrument of the government to alleviate poverty. Its main feature was to enable selected families to cross the poverty line in a given time-frame by taking up self-employment in various activities like agriculture, horticulture, animal husbandry, weaving and handicrafts and services and business activities.
- Training Rural Youths for Self-Employment (TRYSEM):
This scheme was launched in 1979 to provide technical skills (training) to rural youths (between 18-35 years) living below the poverty line, to enable them to seek employment in fields of agriculture, industry, services and business activities.
- Food for Work Programme (FWP):
This programme was introduced in 1977 by the then Janata government with the objective to provide employment to the unemployed/underemployed village persons during the slack season. The wages paid to the workers were in kind, i.e., food grains.
The works undertaken were flood protection, maintenance of existing roads, construction of new link roads, improvement of irrigation facilities, construction of school buildings, medical and health centres and Panchayat Ghars (community halls) etc.
- National Rural Employment Programme (NREP):
This is redesigned programme of FWP, planned for creating additional employment opportunities in the rural areas with the help of surplus food grains. It was started in 1980 as a part of the Sixth Plan (1980-85). This programme was especially for those rural people who largely depended on wage employment but had no source of income during lean agricultural period. PRIs were actively involved in this programme.
6 Write short notes on:
- Land reforms
Answer: Land reform involves the changing of laws, regulations or customs regarding land ownership.[1] Land reform may consist of a government-initiated or government-backed property redistribution, generally of agricultural land. Land reform can, therefore, refer to transfer of ownership from the more powerful to the less powerful, such as from a relatively small number of wealthy (or noble) owners with extensive land holdings (e.g., plantations, large ranches, or agribusiness plots) to individual ownership by those who work the land. Such
- RBI
Answer: The Reserve Bank of India is India’s Central Banking Institution, which controls the Monetary Policy of the Indian Rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid
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