BBA 503 ECONOMIC PLANNING AND POLICIES

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	BBA
SEMESTER	V
SUBJECT CODE & NAME	BBA 503 ECONOMIC PLANNING AND POLICIES
BK ID	B1851
CREDIT & MARKS	4 CREDITS & 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question.1. Briefly explain any 3 types of theory of Economic Development and also discuss the features of a Developing Economy?

Answer:Economic development is a term that economists, politicians, and others have used frequently in the 20th century. The concept, however, has been in existence in the West for centuries. Modernization, Westernization,

Question.2. Write short notes on:

a) Foreign Direct Investment (FDI) in India

Answer:Foreign Direct Investment (FDI) in India is the major monetary source for economic development in India. Foreign companies invest directly in fast growing private Indian businesses to take benefits of cheaper wages and changing business environment of India. Economic liberalisation started in India in wake of the 1991

Government initiatives: The Government of India has amended FDI policy to increase FDI inflow. In 2014, the government increased foreign investment upper limit from 26% to 49% in insurance sector. It also launched Make

b) Communication system in India

Answer:The origin of modern postal system – in India can be traced back to 1837 when postal service was opened to the public.

Quick Mail Service ( QMS )

·         It was introduced in 1975. This service now covers all state capitals, headquarters of all Union Territories and important commercial towns.

Question.3. Discuss in detail Liberalization, Privatization and Globalization (LPG) Model ofDevelopment with the help of examples?

Answer:The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.

Question.4. Discuss the Significance of Agriculture in the National Economy?

Answer:India is mainly an agricultural country. Agriculture is the most important occupation for most of the Indian families. In India, agriculture contributes about sixteen percent (16%) of total GDP and ten percent (10%) of total exports.

3) Indian agriculture and pattern of employment:

 Year                           Percentage of working population in agriculture

1961                                                               69.5%

1981                                                               59.4%

While in U.K.                                                     23%

France                                                             7%

Question.5. Discuss the Overview of the Services Sector

Answer:The service sector, also called tertiary sector, is the third of the three economic sectors. The other two are the primary sector, which covers areas such as farming, mining and fishing; and the secondary sector which covers manufacturing and making things. The service sector provides a service, not an actual product that could be held in your hand. Activities in the service sector include retail, banks,

Question.6. Explain the role of the Public Sector in India

Answer:Here we detail about the following nine important roles played by public sector in Indian economy, i.e.,

1. Generation of Income: Public sector in India has been playing a definite positive role in generating income in the economy. The share of public sector in net domestic product (NDP) at current prices has increased from 7.5 per cent in 1950-51 to 21.7 per cent in 2003-04. Again the share of public sector enterprises only (excluding public administration and defence) in NDP was also increased from 3.5 per cent in 1950-51 to 11.12 per cent in 2005-06.

2. Capital Formation: Public

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