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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

Macroeconomic threats to Indian economy

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Macroeconomic threats to Indian economy     Indian economy is going through a turbulent period with key indicators hinting at a prolonged slowdown. The coronavirus pandemic has weakened all sectors of the Indian economy since April and a recovery seems unlikely this year. From contraction in growth to rising inflation and unemployment, challenges are aplenty. The sharply surging coronavirus cases make the case for recovery worse. India’s GDP growth is expected to remain in negative zone for the entire year and projections for June quarter signal how adversely Covid-19 has disrupted the livelihood, particularly of the poor. recent SBI Ecowrap report said the national GDP may contract by 16.5 per cent in the first quarter of the current fiscal. The report also mentioned that India’s economic recovery could take much longer than expected. The annual GDP is forecast to sink over 5.1 per cent. This will mark the weakest GDP growth rate in over four decades.  five major challenges that Ma

CORANA Infection Pre and post effect challenges and Solution

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CORANA Infection Pre and post effect challenges and Solution  As on date India is battling Corana infection with 4000 cases as on date and now increment at approx 500 cases for each day from most recent couple of days .Intially corana rate was one moment yet in hardly any days it is expanding fast.This is ready and alarming condition for the nation . India is in  lock down phase  for 21 days which has affected our India Economy and nation by terms of 1) Downturn in Industry because of complete lock down which is affecting income and in general cash supply in the Economy. 2) Increment Govt Use and Nation assets in Medicinal services fragment and open advantage plot which is lessening ezpenditure on other need portion. 3) Raising asset from world bank has made High monetary defcit for the nation. 4) Low assortment in Immediate and Aberrant expense has sway on Govt incomes which will have future impact on ordinary citizens which is indicating patterns of compensation c

Corona virus Infection Impact ON INDIAN ECONOMY. UGC NET,UPSC and other competition exam.

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Corona virus Infection Impact ON INDIAN ECONOMY. UGC NET,UPSC and other competition exam. Corona virus Check this video how corana virus spread in multiple reaction. https://www.facebook.com/Corporatebytes/videos/198646281440723/ The savage infection has carried a huge part Indian economy to a halt and its effect has been felt across ventures. India's pharmaceutical and electronic assembling areas are reliant on China for sources of info and they might be affected, It is unquestionably an issue which should be firmly observed by each policymaker whether in India or some other nation. Each policymaker, each money related position needs to keep an extremely close watch. So coronavirus issue should be firmly viewed. The negative financial effects of this infection came quickly and will probably exacerbate as the episode keeps on disturbing the travel industry, exchange, supply chains, Assembling and interest in India. Advancements over the previous week h

MECHANICAL AND INDUSTRIAL APPROACH AND CHANGES IN INDIA 1947 TILL DATE FOR UGC NET ,UPSC AND OTHER COMPETITIVE EXAMS

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MECHANICAL AND INDUSTRIAL APPROACH AND CHANGES IN INDIA 1947 TILL DATE FOR UGC NET ,UPSC AND OTHER COMPETITIVE EXAMS.         Industrial approach Govt of India A mechanical approach of a nation, now and then indicated IP, once in a while modern system, is its authority vital exertion to energize the advancement and development of all or part of the economy, frequently centered around all or part of the assembling area. The administration takes measures "planned for improving the seriousness and capacities of local firms and advancing auxiliary transformation."A nation's framework (counting transportation, broadcast communications and vitality industry) is a significant empowering influence of the more extensive economy thus frequently has a key job in IP. Mechanical strategies are interventionist estimates regular of blended economy nations. Numerous sorts of modern strategies contain regular components with different kinds of interventionist practices, for ex

Three Significant Segments or Components of New Monetary Approach: UGC NET,UPSC and other Competitive exam

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Three Significant Segments or Components of New Monetary Approach: UGC Net ,UPSC and other competitive Exam                New Economic policy There are three significant segments or components of new monetary approach Progression, Privatization, Globalization.  1. Progression:  Monetary progression alludes to the decrease or disposal of government guidelines or limitations on private business and trade.It is typically advanced by supporters of free markets and unhindered commerce, whose belief system is likewise called financial radicalism. Financial advancement additionally regularly includes decreases of expenses, government managed savings, and joblessness benefits. Financial progression is frequently connected with privatization, which is the way toward moving proprietorship or redistributing of a business, endeavor, office, open assistance or open property from the open segment to the private area. Progression alludes to end of permit, share and a lot more lim

NEW ECONOMIC POLICY 1991 TILL DATE UGC NET ,UPSC AND OTHER COMPETITIVE EXAM

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NEW ECONOMIC POLICY 1991 TILL DATE UGC NET ,UPSC AND OTHER COMPETITIVE EXAM New Economic policy The financial advancement in India alludes to the monetary progression of the nation's monetary arrangements, started in 1991 with the objective of making the economy more market-and administration situated, and extending the job of private and remote investment.Most of these progressions were made as a major aspect of the conditions spread out by the World Bank and the IMF as a condition for a $500 million rescue to the Indian government in December 1991. Explicit changes remember a decrease for import duties, deregulation of business sectors, decrease of expenses, and more noteworthy outside speculation.  PRE CHANGE PERIOD Before the procedure of change started in 1991, the administration endeavored to close the Indian economy to the outside world. The Indian money, the rupee, was inconvertible and high duties and import permitting forestalled remote merchandi

INDIAN ECONOMY STAGE 2 AFTER INDEPENDENCE (1950-1990) UGC NET,UPSC AND OTHER COMPETITIVE EXAM

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  INDIAN ECONOMY  STAGE 2 AFTER INDEPENDENCE   (1950-1990)   UGC NET,UPSC AND OTHER COMPETITIVE EXAM Indian Economy Post-freedom perhaps the greatest test the Indian chiefs and government confronted was the condition of the Indian Economy. Thus they set up the arrangement of the Multi Year Plans. In the following four decades, they realized precise changes to farming, exchange, and industry. Economy Indian Economy after Autonomy In the post-autonomy period, the pioneers of the nation had some unsafe choices to take. One of them was which sort of monetary model would India follow? In those occasions there were two models followed by most nations on the planet – industrialist economy and communist economy. Our first PM Jawaharlal Nehru favored the communist model. In any case, in a popular government like India, an unadulterated communist economy can not prosper. Private enterprise was likewise not fit since the legislature needed to develop an economy and care for

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