They have also destroyed the cottage and small industries by adopting unfair competition which has put a huge pressure on agriculture, disguised unemployment and poverty. In order to attain economic development in an underdeveloped economy, capital formation is considered as an important pre-requisite for development.
Lack of Basic Needs: Where the rich are becoming richer. Setting a dynamic economy in a static social set up is almost impossible as they cannot pull together.
The development process of an underdeveloped or developing economy is not an easy task rather it is a complicated one as these countries are not having any common characteristics. Conservative and rigid social and institutional set up like joint family system, caste system, traditional values of life, irrational behaviour etc.
Thus AB represents the potential production curve.
Under such a situation, the rate of investment in these countries is very low leading to low level of capital formation and low level of income. All these imperfections have resulted low level of output and low rate of productivity per worker.
Due to abundant labour supply and scarcity of capital, such technologies become unsuitable for these countries. In the absence of public co-operation and participation, this development strategy cannot function properly. In order to attain economic progress, people must be ready to bear both the sufferings and convenience.
And people are living on pavements for not having a proper accommodation. There are many regional languages and several other local dialects. The other major cities are Bangalore, Mysore, Chandigarh, Raipur, etc.
Foreign rulers converted these economies as primary producing countries engaged in the production of raw materials only to be supplied to the ruler country at cheaper prices and also a potent market for the sale of the manufacturing products produced by the ruler country.
The 21st century is going to reap the fruits of these developments. And what does the representation of BJP in Delhi have to say about that?
Thus in order to achieve fast economic progress, an underdeveloped country must attempt to introduce a rational reorganisation of its entire economy.
Corruption is nothing but financial rape and financial adultery. Secondly, the production frontier, i.
And there is a lot of gap between poor and rich. Here the consumption level of individual is very much influenced by the standard of living or consumption habits of his neighbours, friends and relatives but not by its income alone.
Removal of market imperfections can accelerate the pace of capital formation and can also widen the scope of capital and money market in these countries.Essays & Papers Why India Is Still Under Developing Country? - Paper Example - Paper Example The European countries has less populaton, but they are more developed than India - Why India Is Still Under Developing Country?
introduction. The question of whether or not India is a developed or developing country is not so simple. To understand the real India, we need to look at many other indicators, such as health and education too.
India is still a developing country because of Imperialism and this has an impact on me. I am actually from Sind, which now is a part of Pakistan.
After the separation of India and Pakistan, I do not know whether I am an Indian of Pakistani. Short essay on India. Category: Essays, Paragraphs and Articles On October 25, By Team Work. India. India is a vast country with second largest population and seventh largest land area in the world.
The population of India is more than billion.
Essay on National Festivals of India; Short Essay on Importance of Independence Day in. india is developing country essay We are now celebrating 60+ years of our Republic Day. But still many people are suffering from hungry, health illnesses. Free Essays on India a Developing Country.
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