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DRIVE
falls
2016
PROGRAM
BBA
SEMESTER
V
SUBJECT
CODE & NAME
BBA
503
ECONOMIC
PLANNING AND POLICIES
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 in the 20th century. The
Wealth of Nations,
2. 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
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 introduced:
·
Areas
up till now reserved for the public sector were opened to private sector. The
Government intended to transfer the
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
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 of 8.4
per cent achieved in each of the previous two years i.e. 2009-10 and 2010- 11.
The slowdown has been all-pervasive and almost
6. 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 India
allowed upto 100 per cent FDI stake in
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