Problem of Poverty In India Nurkse explains the phenomenon of poverty in terms of vicious circle of poverty. Vicious circle of poverty is defined as a situation of self-reinforcing forces in which there are certain factors that are related in a circular way and result in continuation of poverty and underdevelopment. As Nurkse puts it, … Read more
Part -1 INTRODUCTION Poverty is one of the most important and pressing problems facing Indian economy today. It is a socio-economic problem. The concept and content of Poverty differ from country to country depending upon what a particular country accepts as a reasonably good standard of living for it’s people. United Nations Development Programme (UNDP) … Read more
On 15 August 1917, India gained freedom. The most important work in front of the leaders of independent India was to decide the type of economic system most suitable for India: a system which would promote welfare of all rather than a few. There are some economic decisions which have to be taken by all … Read more