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Macro Economics Assignment

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21 views2 pages

Macro Economics Assignment

Uploaded by

kssk
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Section – A

a) Economic and Social Issues (ESI)


I. Growth and Development
1. Measurement of Growth:
 How is national income measured in India, and what are its
limitations?

- National income is predominantly measured by Gross Domestic


Product (GDP), Gross National Product (GNP), Net National Product
(NNP), NDP (Net Domestic Product), NDP (Net Domestic Product)
- Limitations in these measures include: inefficiency to capture
incomes in un-organized sectors, they do not account for depletion
of natural resources, challenges in collection of data across the
nation
 Analyze the trends in India's per capita income over the last
decade.

- India’s per capita Net National Income (NNI) at constant (2011-12)


prices is Rs 72,805 in 2014-15. The same in 2022-23 is Rs. 98,374
- Till 2020-21, the per capita income has been increasing steadily.
But due to the COVID-19 Pandemic effect there is a severe drop in
the per capita income. This is due to the lockdown, disruption of
supply chains, reduced demand etc.
- Post the pandemic, during 2021-22 & 2022-23, the per capita
income started to recover gradually. Economic reforms, vaccine
drives, boast from the government & stable government are some
reasons for the improvement.
- Ref: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1945144

2. Poverty Alleviation and Employment Generation:


 Evaluate the effectiveness of the Mahatma Gandhi National Rural
Employment Guarantee Act (MGNREGA) in alleviating rural
poverty.

- MGNREGA is enacted in order to provide at least 100 days of waged


employment to labors in the rural India.
- The act is very effective in providing employment & minimum
wages to the rural labors who constitute the majority of rural poor.
- Through this scheme, the rural poor with no skills can learn the
work & try to earn their livelihood at their villages. This indirectly
reduces the pressure of migration to cities.
- Thus the act provides income security to the rural poor & thus very
effective in alleviating the rural poverty.
 Discuss the impact of Skill India and other employment
generation programs on India's unemployment rates.
- The unemployment rates in India are caused due to severe
competitions in job market, skill gap, lack of adequate job
opportunities, jobs lost due to automation etc.
- Govt. came forward with some initiatives to tackle each of these
problems to reduce the un-employment rate in India
- The Skill India initiative is focused to fill the gaps between the skills
of youth of India & the expectations of industry. Here, govt.
provides certification courses & training to the youth under Pradhan
Mantri Kaushal Vikas Yojana (PMKVY). To increase the exposure of
industrial practices, apprenticeship programmes are created for the
college pass-outs.
- These kind of initiatives shall increase the employability of the
youth & decreases the un-employment rates.

3. Sustainable Development and Environmental Issues:


 What are the main environmental challenges faced by India in
achieving sustainable development?

- Air pollution, water pollution, water scarcity, soil pollution,


deforestation, dependency on non-renewable energy, waste
management, climate change are some of the challenges faced by
India in achieving sustainable development
 Critically analyze India’s policy measures for combating climate
change.

- India came up with National Action Plan on Climate Change


(NAPCC) to combat the climate changes. India is also committed to
the international climate agreements like Paris agreement.
- India also came up with plenty of policies encouraging its people to
use renewable power sources
- However, cooperation from public & enterprises is much required to
achieve its climate goals & ensure sustainable development.

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