Economic World : Problems faced by backward countries in implementa...

Economic World : Problems faced by backward countries in implementa...:  Problems faced by backward countries in implementation of globalization policies  Many economists consider it unclear how far international...

 Development Indicator: Only GDP is not a Parameter

India is currently the fifth largest economy in the world in terms of Gross Domestic Product (GDP). The International Monetary Fund (IMF) has confirmed that India has overtaken Britain and taken that status. Analysis has recently come to light that Germany, which is one step above India, will surpass Japan this year. India will become the third largest economy by the year 2030 after both Germany and Japan, S&P Global Market Intelligence's latest estimate says. There are rumors that India, which is a three and a half trillion dollar economy, will expand to 7.3 trillion dollars in the next seven years. By then, only America and China were ahead of India. This is a gratifying development, but on deeper analysis - different angles are revealed. On the basis of GDP growth rate, India seems to be creeping up the ladder. India is a lower middle income country in terms of GDP per capita. It is a stark truth that India, with a population of over 140 crores, is the poorest country in the G20 bloc, according to per capita income figures. The Oxfam report has clarified that the 19 crore people who are dying of hunger in 2018 will increase to 35 crore by 2022. In terms of disparities, reports also show that many Scheduled Castes and Tribes families do not have access to quality personal sanitation facilities. Such a shortage of medical facilities is increasing. Post-crisis, even though there has been an increase in the wages of day laborers, their net incomes have been shrinking due to the boom in inflation. Who is proud of the fact that while the country is running in the race of GDP - the common life of the people is in dire straits? The growth of GDP is for the development of the country.

Decomposing- normal

Who is proud that people's lives are in dire straits? Is the growth of GDP the pillar of the country's development? Is the relative analysis that India is progressing faster than any other country the measure of net progress? Will the face of the country change qualitatively if the wealth is limited to a limited number of poor people? Can't! Prosperity of the country means - shining light in the lives of the common people. A country is developed only when the income of a large number of people increases and their standard of living improves significantly. In reality, the opposite scenes are heart-wrenching. The poor people of the country are giving a strong impetus to the formulation of the rich and the poor - the situation is worsening at the field level. Namely, India is an agricultural country. Innumerable laborers are living miserable lives of poor income and indebtedness. The National Health Authority (NHA) recently concluded that 52 percent of Indians have to bear the medical expenses on their own even if they get sick or get sick due to systemic laxity. Because of that cost burden, an average of more than six crore helpless citizens are pushed into poverty every year. The growth in GDP is not able to support the lives of crores of people, and the boom of malnutrition everywhere is showing. 30 percent of stunted children around the world, malnutrition is a prime example of that. After all, when the per capita income for food is 5000- per capita in a balanced environment- providing a healthy life and a secure future to the people who cannot get better employment in the human development index..... The roaring India is the real national development! Explodes.

Population:- A Growth Engine of an Economy

 My Bharat' to keep up with the changing times.

Introduction: India is moving fast in the digital world.  The Center is launching a digital platform 'My Bharat' to keep up with the changing times.  The center hopes that this will stimulate and utilize the intellectual power and energy of the youth for the progress of the country.  It is believed to become a tool of coordinated action.

 Governments should take all precautions to ensure that educated Indian youth plays a vital role in the international economic system.  Constructive measures should be taken under vision 2007 to bring the youth of villages, cities and small towns on a single platform.  In this process, the Center hopes that the My Bharat platform will help empower the youth to realize their dreams, share innovative ideas with each other and become drivers of development.  Apart from indigenous youth in the age group of 15-29 years who are classified as youth under the National Education Policy 2020, Indian youth abroad can also share this platform.

should be put on the scales.  We need to develop entrepreneurial skills in our youth.  They need to be trained to adapt to ever-changing technologies.  Youngsters should be motivated and hardworking to learn advanced technologies.

The UN affiliate UNESCO has already established an international youth platform called the Global Youth Community (GYC).  My Bharat platform should learn lessons from its efforts and experiences for inclusive and sustainable economic development.  Necessary programs should be organized to invite youth from other countries to India and send Indian youth abroad.

The Union Cabinet has decided to launch the My Bharat platform on October 31, which is Sardar Vallabhbhai Patel's birthday and National Unity Day.

The Indian Union Cabinet has decided to develop My Bharat as a self-determination platform that provides equal opportunities for the fulfillment of the aspirations and hopes of the youth.  Analyzes suggest that this platform will connect crores of youth digitally and physically and become drivers of socio-economic progress.

 Prime Minister Narendra Modi emphasized that My Bharat platform will be crucial for youth driven development and development of Vikasim Bharat.  He commented that it will work towards building a sustainable India with self-determination.

Suggestions:

 Governments need to prepare our education system to enable students to learn the ever-evolving technologies.  The youth should be transformed not only as job seekers but also as entrepreneurs who can create jobs themselves.  Governments should lay the foundation for poverty alleviation and income development by providing rapid employment to youth trained in new technologies.  The youth are the destiny of the country so they should be trained in leadership skills.  Updates should be made as persuasive.  There is a need to provide the necessary training to excel in the advanced business era driven by digital technologies.  Finding new solutions to problems

  Young people in India and abroad should share their experiences and skills with each other.  Indian youth go abroad for professional jobs.  The government should provide adequate opportunities and infrastructure for them to use their energies in their own country without having to go abroad.  Thus preventing the migration of Meda and the development of the country.

They have to start new businesses.  The necessary investments and permissions should be provided quickly.  The youth should be trained to achieve digital business opportunities and new types of jobs not only in the country but also abroad.  Youth should be supported in terms of government, private and voluntary organizations.  They should be employed as voluntary workers in the activities of these organizations.

Price Determination in a perfectly competitive Markets

Price determination in perfectly Competitive Markets

A perfectly competitive market is rare in the modern world. It can be said that this is not the case in the industrial sector. Similarly, a monopolistic market is rare in the private sector. Markets between these two are widely prevalent. Monogamous power exists in all these in varying degrees. It results in misuse of resources. Marginal cost pricing method is followed in public sector organisations to prevent such misuse of resources. Only short- run marginal cost considerations come into play. The net social benefit is maximised. Because many industries have credit exposures, marginal costs of exposure are subsumed under social marginal costs. If that happens, over production will be reduced and social benefit will be achieved. In industries that follow the marginal cost pricing system, long- run costs are declining and they incur losses. Burying them is difficult. Marginal cost measurement is complicated. Full cost pricing approach is followed to overcome the above mentioned difficulties. This policy is widespread in all sectors and industries across countries. It is known that average cost is obtained by dividing the total cost with the product. Real costs are higher than ability costs due to ownership isolation, contributing to X- inefficiency. Adding higher costs to the price increases the price level. This is how cost- induced inflation occurs. Direct and indirect taxes levied on companies are also passed on to consumers by raising prices. This can be termed as tax induced inflation. For the above reasons average cost pricing theory cannot be said to be better than marginal cost pricing theory. In perfectly competitive industries, long- run cost equals marginal, average cost. 

The price is not fixed by any single company in the industry. All firms accept the price determined in the market.(Similarly, the number of consumers is as large as the number of these firms. Firms, Competition among consumers is perfect. Hence such markets got that name. Chronic These firms can only make normal profits when price equals marginal and average costs. price, Differences between costs may occur in the short term. This can result in high profits or losses. Profits When new firms enter the industry. Production increases. Thus reducing the price and higher profits disappears. Disadvantages include weak firms exiting the industry, resulting in lower output and lower prices increases. Thus normal profits are added. If the goods are available at the marginal cost price of the consumer The benefit is maximised. Perfectly competitive markets are rare in the world. The most common ones are imperfect competition

A perfectly competitive market is rare in the modern world. It can be said that this is not the case in the industrial sector. Similarly, a monopolistic market is rare in the private sector. Markets between these two are widely prevalent. Monogamous power exists in all these in varying degrees. It results in misuse of resources. Marginal cost pricing method is followed in public sector organisations to prevent such misuse of resources. Only short- run marginal cost considerations come into play. The net social benefit is maximised. Because many industries have credit exposures, marginal costs of exposure are subsumed under social marginal costs. If that happens, over production will be reduced and social benefit will be achieved. In industries that follow the marginal cost pricing system, long- run costs are declining and they incur losses. Burying them is difficult. Marginal cost measurement is complicated. Full cost pricing approach is followed to overcome the above mentioned difficulties. This policy is widespread in all sectors and industries across countries. It is known that average cost is obtained by dividing the total cost with the product. Real costs are higher than ability costs due to ownership isolation, contributing to X- inefficiency. Adding higher costs to the price increases the price level. This is how cost- induced inflation occurs. Direct and indirect taxes levied on companies are also passed on to consumers by raising prices. This can be termed as tax induced inflation. For the above reasons average cost pricing theory cannot be said to be better than marginal cost pricing theory.