Economic Policies Many economic policies have been framed by the Government of India since independence for increasing rate of economic growth and economic development. The important economic policies are . Agriculture policy Agricultural policy is the set of government decisions and actions relating to domestic agriculture and imports of foreign agricultural products. Some over arching themes include risk management and adjustment, economic stability , natural resources and environmental sustainability research and development, and market access for domestic commodities.
Some Agricultural policies are Price policy, land reform policy, Green Revolution, Irrigation policy, Food policy, Agricultural Labour Policy and Co-operative policy. . Industrial Policy Industrial development is a very important aspect of any economy. It creates employment, promotes research and development, leads to modernization and ultimately makes the Human Development Index In Mahbub ul Haq, a Pakistani Economist at the United Nations, introduced the Human Development Index (HDI).
The HDI is a composite index of life expectancy at birth, adult literacy rate and standard of living measured as a logarithmic function of GDP, adjusted to purchasing power parity. India climbed one spot to out of countries in the latest human development rankings released today by the United Nations Development Programme (UNDP). Between and , India’s HDI value increased from . to .
, an increase of nearly percent – and an indicator of the country’s remarkable achievement in lifting millions of people out of poverty. - - . . AM - - .
. AM Gross Domestic Product and its Growth: an Introduction economy self-sufficient. In fact, industrial development even boosts other sectors of the economy like the agricultural sector (new farming technology) and the service sector. It is also closely related to the development of trade.
Several industrial policies have been enacted. Since , Industrial policy on large scale industries, e.g., Textile Industry policy, Sugar Industry policy, Price policy of industrial Gross National Happiness (GNH) The term Gross National Happiness was coined in during an interview by a British journalist for the Financial Times at Bombay airport when the then king of Bhutan, Jigme Singye