This study analyses India’s central government’s promotion of Export lead growth (ELG) and its impact on the Indian economy. The study suggests that the focus on ELG policies since 1994 has not been successful, and the government should concentrate on improving existing institutions, such as legal, financial, and medical services, to support budding industries in the Indian market.
This article analyzes the relationship between India’s stock exchange and foreign markets, finding a significant link between the NSEI and the FTSE 100, NYA, N225, and KLSE. It questions India’s path to self-sufficiency and highlights the importance of economic interdependence. The article raises concerns about whether India is still a self-sustaining agrarian economy unaffected by others.
This article analyzes the sensitivity of personal income tax and its impact on tax revenues, using the example of the top tax bracket in the US federal income tax system for the year 2012. The study tests the relationship between changes in tax rates, tax bases, and revenues using static and dynamic tax analyses, measuring efficiency and deadweight losses and the Laffer maximized tax rate. The paper also examines the economic welfare and tax potential of the population for this bracket.
Climate change and agriculture are interrelated processes that impact global food production, weather conditions, and soil properties. Climate change negatively affects agriculture, contributing to droughts, crop failures, and the loss of pasture grazing land for livestock. Mitigating the effects of climate change on agriculture is crucial, as agriculture itself contributes to greenhouse gas emissions, and is responsible for over a quarter of total global emissions.
This paper examines trade policy reforms in emerging economies over the past three decades, highlighting the political economy and its influence on economic scenarios. It considers the challenges and benefits of extended liberalization, including the role of FDI and FII. The paper reviews the factors that have influenced trade policy reforms and draws lessons from past policies to provide direction for impending liberalization policies in developing economies.
In this article, the authors assess the existence of poverty traps through a review of existing literature and research. They explore various types of poverty traps and attempt to identify their causes, but reduced-form pragmatic research indicates that the self-sustaining cycle of poverty is not always found. The authors discuss the importance of investment and savings in economic growth and development.
The Indian government’s rent-seeking behavior aimed at achieving self-sufficiency has led to corruption and hampered economic growth. The introduction of Globalization, Liberalization, and privatization policies in 1991 brought about significant changes. However, income inequality persists due to liberalization, and labor laws and unions in each state restrict employment opportunities and mobility nationwide, leading to fraud and hampered growth.
This article questions whether the obsession with material possessions in the developed world has led to a society of greed and self-obsession. While materialism may maximize society’s utility in terms of using resources, it can also lead to unhappiness and disordered families. The author suggests limiting consumption and making a choice between ‘have’s and ‘have not’s to achieve economic prosperity and attain happiness by de-voiding human values.
The cycle of consumption, saving and investments are the major directional force effecting and estimating the growth of any economy. With an increase in consumption, poverty reduces, leading to the upliftment of people below the poverty line. However, charity is still needed, and consumption should not be considered a replacement for it.
The article argues that human development is based on individual’s ideas, which are influenced by their surroundings. Therefore, government intervention should focus on making life comfortable for people based on their knowledge of requirements, and the economy should be assessed based on the rate of requirement fulfillment. The article challenges the assumption of rationalism in economic theory and suggests that policies should be tailored to individual societies.
