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Spring 2016
Bba503
1 Briefly explain any 3 types of theory of
Economic Development and also discuss the features of a Developing Economy?
3 types of Economic development theory
Features of a Developing Economy
Answer:
Theories of Economic Development
(a) The
‘Wealth of Nations’ Theory: Adam Smith has been recognized as the leading
expounder of economic thought. Adam Smith’s opinions can be prominently seen in
the works published by David Ricardo and Karl Marx in the 19th century, and by
John Maynard Keynes and Milton Friedman
2. Write short notes on:
a) Foreign Direct Investment (FDI) in India
b) Communication system in India
Answer: a) Foreign
Direct Investment (FDI) in India
Latest terms of trade development with respect to important areas like
auto components, apparels, chemicals, pharmaceuticals, jewellery, etc., form
the basis for FDI in India although its rigid FDI policies made for an
important obstacle in this context. Recently, a more liberalized FDI policy of
3 Discuss in detail Liberalization,
Privatization and Globalization (LPG) Model of Development with the help of
examples?
Liberalization, Privatization and
Globalization (LPG) Model of Development
Answer: The LPG Model of
development was brought out in 1991. The model was pioneered by the then
Finance Minister Dr. Manmohan Singh with a huge impact and it proposed to lay
focus on liberalization, privatization and globalization. (LPG). Several major
changes at the domestic level were
4 Discuss the Significance of Agriculture in
the National Economy?
Significance of Agriculture in the National
Economy
Answer: Significance of Agriculture in the National Economy
Agriculture has always been the backbone of the Indian economy and
despite concerted industrialization in the last six decades; agriculture still occupies
a place of pride. It provides employment to around 60 per cent of the total
work force in the country. The significance of agriculture in the national
economy can be best explained by considering the role of agriculture under
5 Discuss the Overview of the Services Sector
Overview of the Services Sector
Answer: Overview of the Services Sector
The growth rate of the Indian economy (measured in terms of GDP at
factor cost at 2004-05 prices) was 5.4 per cent in the first half (H1) of year
2012-13 as against 7.3 per cent in the corresponding time period of the
previous year. The growth for the full year of 2011-12 was 6.5 per cent
vis-à-vis the growth rate
6. Explain the role of the Public Sector in
India
Role of the Public Sector in India
Answer: Role of the Public Sector in India
Public sector in India has been criticized vehemently by a number of
supporters of the private sector who have chosen to shut their eyes towards the
achievements of the public sector. To understand the role of the public sector,
we must have a comprehensive view of the entire public sector. Besides
autonomous corporations, departmental enterprises should also be included in
the public
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