BBA 503 = ECONOMIC PLANNING AND POLICIES

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DRIVE

Spring 2017

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 \

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 India allowed upto 100 per cent FDI stake in different ventures which includes the real-estate sector as well. Some of the industrial policy reforms are removal of restrictions on development providing easy access to foreign technology

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

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

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

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 sector. While doing so, not only the enterprises owned a

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