&<–2/”>a >nbsp;
Economic Growth
- Economic growth means an increase in Real GDP. This increase in real GDP means there is an increase in the value of national output / national expenditure.
- Economic growth is an important macro-economic objective because it enables increased living standards and helps create new jobs.
Measurement of Economic Growth
Economic growth is measured by changes in the gross domestic product (GDP). It measures a country’s entire economic output for the past year. That takes into account all goods and Services that are produced in this country for sale, whether they are sold domestically or sold overseas. It only measures final production, so that the parts manufactured to make a product are not counted. Exports are counted because they are produced in this country. Imports are subtracted from economic growth. Economic growth is measured quarterly measured using real GDP to compensate for the effects of Inflation. Here’s more on the GDP growth rate and how you can calculate it.
Measurements of economic growth do not include unpaid services. They include the care of one’s children, unpaid volunteer work, or illegal black-market activities.
Determinants of Economic Growth
- Productivity.
- Intensity (hours worked)
- Demographic changes.
- Political institutions, property rights, and Rule of Law.
- Capital.
- New products and services.
- Growth phases and sector Shares.
Economic Growth of Rajasthan
Between 2004-05 and 2015-16, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 12.38 per cent to US$ 102.98 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 12.67 per cent to US$ 93.30 billion.
Rajasthan accounts for 17.5 per cent of the total cement grade limestone reserves in India and is the largest cement producer with 21 major cement Plants having a total capacity of 55 million tonnes per annum.
Bureau of Investment Promotion (BIP) is a nodal agency of the Government of Rajasthan that facilitates investments in various sectors in the state. Rajasthan State Industrial Development and Investment Corporation (RIICO) is the sole agency in the state that develops land for industrial growth.
Some of the major initiatives taken by the government to promote Rajasthan as an investment destination are:
- As per the state budget 2016-17, an estimated outlay of US$ 860 million was made for agriculture and allied industries in the state.
- US$ 1.88 billion for rural development and US$ 4.82 billion for the power sector in the state.
- The Government would also be providing US$ 76.82 million for Feeder Renovation Programme (FRP). In addition, the Government of Rajasthan would provide US$ 1.13 billion for the purpose of Equity contribution and budgetary support.
- A Single Window Clearance System (SWCS) for investment approvals is operational in the state and the BIP was set up to focus on investments above US$ 2.2 million.
- The Government of Rajasthan is promoting the development of several SEZs across the state for sectors such as gems and jewellery, handicrafts, IT, electronics, automotive/auto components and textiles.
- Special auto and engineering zones have been developed in Pathredi Industrial Area and Bhiwadi. The three main auto clusters of Rajasthan – Bhiwadi, Neemrana and Pathredi –have as many as 100 functional units.
- RIICO developed 323 industrial areas, including SEZs, Export Promotion industrial parks and inland container depots.
- The State Government is encouraging JVs and contract management of private heritage properties (forts, fortresses, palaces and havelis) as well as identifying heritage government properties to award on a lease basis to promote tourism.
- IT parks with special Infrastructure-2/”>INFRASTRUCTURE have been set up at Jaipur, Jodhpur, Udaipur, Kota and Alwar.
In 2014, Rajasthan Solar Energy Policy was introduced to reduce dependence on conventional sources of energy by promoting the development of nonconventional energy sources, especially solar power.
The Concept Of Economic Development
- Economic development is the process by which a nation improves the economic, political, and social well-being of its people.
Differences between Economic Growth and Economic Development
- Economic growth measures an increase in Real GDP (real output). GDP is a measure of the NATIONAL INCOME / national output and national expenditure. It basically measures the total volume of goods and services produced in an economy.
Economic Development looks at a wider range of statistics than just GDP per capita. Development is concerned with how people are actually affected. It looks at their actual living standards and the freedom they have to enjoy a good standard of living.
Elements/ Factors Contributing to Economic Development
- Human Resource
- Natural Resources
- Capital Formation
- Technological Development
- Social and Political Factors
Economic Planning for India
Economic planning refers to the initiation, control and regulation of economic activity by the state with a view to achieve predetermined objectives within a given time-interval.
The principal function of planning, especially in a federal system, is to evolve a shared vision of and commitment to the national objectives and development strategy not only in the government at all levels, but also among all other economic agents.
NITI Aayog acts as the quintessential platform of the Government of India to bring States to act together in national interest, and thereby fosters Cooperative Federalism.
At the core of NITI Aayog’s creation are two hubs – Team India Hub and the Knowledge and Innovation Hub. The Team India Hub leads the engagement of states with the Central government, while the Knowledge and Innovation Hub builds NITI’s think-tank capabilities. These hubs reflect the two key tasks of the Aayog.
NITI Aayog is also developing itself as a State of the Art Resource Centre, with the necessary resources, knowledge and skills, that will enable it to act with speed, promote research and innovation, provide strategic policy vision for the government, and deal with contingent issues.,
Rajasthan is a state in northwestern India. It is the largest state in India by area, covering 342,239 square kilometers (132,139 sq mi). The state is bordered by Pakistan to the northwest, Gujarat to the west, Haryana and Punjab to the north, Uttar Pradesh to the northeast, Madhya Pradesh to the east, and Gujarat and Maharashtra to the south. The capital of Rajasthan is Jaipur.
Rajasthan is a land of contrasts. It is home to the Thar Desert, the world’s largest hot desert, as well as the Aravalli Range, the oldest mountain range in India. The state is also home to a number of historical and cultural sites, including the Mehrangarh Fort in Jodhpur, the Hawa Mahal in Jaipur, and the Taj Mahal in Agra.
Rajasthan is a developing state with a Population of over 70 million people. The state’s economy is based on agriculture, tourism, and manufacturing. Rajasthan is also a major producer of Minerals, including coal, iron Ore, and limestone.
The state government of Rajasthan has been working to promote economic growth and development in the state. The government has invested in Infrastructure Development, such as roads, bridges, and power plants. The government has also promoted Education and healthcare, and has taken steps to improve the Environment.
Rajasthan has made significant progress in recent years. The state’s economy has grown at a rate of over 8% per year, and the POVERTY rate has declined. The state has also made progress in education and healthcare. However, there are still challenges that need to be addressed, such as Unemployment and Corruption.
The government of Rajasthan is committed to promoting growth and development in the state. The government is working to improve the state’s infrastructure, education, healthcare, and environment. The government is also working to create jobs and reduce corruption. The government of Rajasthan is confident that the state will continue to progress in the years to come.
Here are some of the key challenges that Rajasthan faces:
- Poverty: Rajasthan is one of the poorest states in India. The poverty rate in Rajasthan is over 20%. The government of Rajasthan is working to reduce poverty by providing EMPLOYMENT opportunities, education, and healthcare.
- Unemployment: The unemployment rate in Rajasthan is over 10%. The government of Rajasthan is working to create jobs by promoting investment in the state.
- Corruption: Corruption is a major problem in Rajasthan. The government of Rajasthan is working to reduce corruption by strengthening the law and order system.
- Infrastructure: The infrastructure in Rajasthan is not well-developed. The government of Rajasthan is working to improve the state’s infrastructure by investing in roads, bridges, and power plants.
- Education: The education system in Rajasthan is not well-developed. The government of Rajasthan is working to improve the state’s education system by providing quality education to all children.
- Healthcare: The healthcare system in Rajasthan is not well-developed. The government of Rajasthan is working to improve the state’s healthcare system by providing quality healthcare to all people.
- Environment: The environment in Rajasthan is facing a number of challenges, such as Air Pollution, Water Pollution, and deforestation. The government of Rajasthan is working to protect the environment by promoting Sustainable Development.
Despite these challenges, Rajasthan is a state with a lot of potential. The state has a young population, a rich culture, and a beautiful landscape. The government of Rajasthan is committed to promoting growth and development in the state. The government is working to improve the state’s infrastructure, education, healthcare, and environment. The government is also working to create jobs and reduce corruption. The government of Rajasthan is confident that the state will continue to progress in the years to come.
Here are some frequently asked questions and short answers about growth, development, and planning:
-
What is growth?
Growth is the process of increasing in size, number, or strength. -
What is development?
Development is the process of making something better or more advanced. -
What is planning?
Planning is the process of thinking about and deciding what to do in the future. -
What is the difference between growth and development?
Growth is a quantitative change, while development is a qualitative change. Growth refers to an increase in size, number, or strength, while development refers to an improvement in quality or condition. -
What is the importance of growth and development?
Growth and development are important for both individuals and societies. Growth allows individuals to become stronger and more capable, while development allows societies to become more prosperous and stable. -
What are some of the challenges to growth and development?
Some of the challenges to growth and development include poverty, inequality, and Environmental Degradation. -
What are some of the strategies for promoting growth and development?
Some of the strategies for promoting growth and development include investing in education, healthcare, and infrastructure; promoting trade and investment; and protecting the environment. -
What are some of the benefits of growth and development?
Some of the benefits of growth and development include increased incomes, improved Health, and better education. -
What are some of the costs of growth and development?
Some of the costs of growth and development include environmental degradation, social unrest, and political instability. -
What is the future of growth and development?
The future of growth and development is uncertain. However, it is likely that growth and development will continue to be important for both individuals and societies.
Here are some frequently asked questions and short answers about Rajasthan:
-
What is Rajasthan?
Rajasthan is a state in northwestern India. It is the largest state in India by area, and the second-largest by population. The capital of Rajasthan is Jaipur. -
What is the history of Rajasthan?
Rajasthan was once a collection of independent kingdoms. The region was conquered by the Mughal Empire in the 16th century. After the decline of the Mughal Empire, Rajasthan was ruled by a number of different Rajput dynasties. The British took control of Rajasthan in the 19th century. Rajasthan became a state of the Indian Union in 1949. -
What is the culture of Rajasthan?
The culture of Rajasthan is rich and diverse. The state is home to a number of different ethnic groups, each with its own unique culture. Rajasthan is also known for its Folk Music, dance, and art. -
What is the economy of Rajasthan?
The economy of Rajasthan is based on agriculture, tourism, and manufacturing. The state is a major producer of Cotton, wheat, and sugar. Rajasthan is also home to a number of important industrial centers. -
What are some of the tourist attractions in Rajasthan?
Some of the most popular tourist attractions in Rajasthan include the Hawa Mahal (Palace of the Winds), the Amber Fort, and the City Palace of Jaipur. The state is also home to a number of temples, forts, and palaces. -
What are some of the challenges facing Rajasthan?
Some of the challenges facing Rajasthan include poverty, illiteracy, and unemployment. The state is also facing the problem of environmental degradation. -
What are some of the opportunities for Rajasthan?
Some of the opportunities for Rajasthan include the development of its tourism Industry, the expansion of its manufacturing sector, and the improvement of its infrastructure. The state is also well-positioned to benefit from the growth of the Indian economy. -
What is the future of Rajasthan?
The future of Rajasthan is bright. The state has a number of strengths, including its rich culture, its diverse economy, and its skilled workforce. Rajasthan is well-positioned to take advantage of the opportunities that lie ahead.
-
Which of the following is not a factor of production?
(A) Land
(B) Labor
(C) Capital
(D) Entrepreneurship -
Which of the following is not a type of economic system?
(A) Capitalism
(B) Socialism
(C) Communism
(D) Mercantilism -
Which of the following is not a goal of economic development?
(A) Increased economic growth
(B) Increased Equality
(C) Increased environmental protection
(D) Increased poverty -
Which of the following is not a type of economic planning?
(A) Central planning
(B) Market planning
(C) Mixed planning
(D) Decentralized planning -
Which of the following is not a characteristic of a developing country?
(A) Low per capita income
(B) High rate of Population Growth
(C) High level of industrialization
(D) Low level of Human Development -
Which of the following is not a characteristic of a developed country?
(A) High per capita income
(B) Low rate of population growth
(C) Low level of industrialization
(D) High level of human development -
Which of the following is not a factor that contributes to economic growth?
(A) Increase in the quantity of capital
(B) Increase in the quality of labor
(C) Increase in the level of technology
(D) Increase in the level of government regulation -
Which of the following is not a factor that contributes to economic inequality?
(A) Differences in natural endowments
(B) Differences in education and skills
(C) Differences in discrimination
(D) Differences in government policy -
Which of the following is not a goal of environmental protection?
(A) To reduce pollution
(B) To conserve Natural Resources
(C) To promote sustainable development
(D) To increase economic growth -
Which of the following is not a type of poverty?
(A) Absolute poverty
(B) Relative poverty
(C) Chronic poverty
(D) Transitory poverty -
Which of the following is not a cause of poverty?
(A) Low levels of education and skills
(B) Lack of access to employment opportunities
(C) Discrimination
(D) High levels of economic growth -
Which of the following is not a solution to poverty?
(A) Increasing access to education and skills
(B) Creating more employment opportunities
(C) Reducing discrimination
(D) Reducing economic growth -
Which of the following is not a factor that contributes to economic development?
(A) Increase in the quantity of capital
(B) Increase in the quality of labor
(C) Increase in the level of technology
(D) Increase in the level of government regulation -
Which of the following is not a factor that contributes to economic inequality?
(A) Differences in natural endowments
(B) Differences in education and skills
(C) Differences in discrimination
(D) Differences in government policy -
Which of the following is not a goal of environmental protection?
(A) To reduce pollution
(B) To conserve natural resources
(C) To promote sustainable development
(D) To increase economic growth -
Which of the following is not a type of poverty?
(A) Absolute poverty
(B) Relative poverty
(C) Chronic poverty
(D) Transitory poverty -
Which of the following is not a cause of poverty?
(A) Low levels of education and skills
(B) Lack of access to employment opportunities
(C) Discrimination
(D) High levels of economic growth -
Which of the following is not a solution to poverty?
(A) Increasing access to education and skills
(B) Creating more employment opportunities
(C) Reducing discrimination
(D) Reducing economic growth -
Which of the following is not a factor that contributes to economic development?
(A) Increase in the quantity of capital
(B) Increase in the quality of labor
(C) Increase in the level of technology
(D) Increase in the level of government regulation -
Which of the following is not a factor that contributes to economic inequality?
(A) Differences in natural endowments
(B) Differences in education and skills
(C) Differences in discrimination
(D) Differences in government policy -
Which of the following is not a goal of environmental protection?
(A) To reduce pollution
(B) To conserve natural resources
(C) To promote sustainable development
(D) To increase economic growth -
Which of the following is not