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India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation. Since, the independence of the country, India has been developing in many perspectives from the economic point of view. Although the Indian economy is developing in nature, it tends to move towards a developed economy. The major reforms in the Indian economy were done in the year 1991.

Features of The Indian Economy

1. Low Per Capita Income: 

The per capita income of India is much less than that of the developed countries. According to the estimates of the Central Statistics Office (CSO), the per capita net national income of India at present prices for the year 2015-16 was approximately Rs. 93231/-.

2. Agro-Based Economy: 

Indian economy is totally agro-based economy. Near about 14.2 % of Indian GDP is contributed by agriculture and allied sectors while 53% of the total population of the country depends upon the agriculture sector.

3. Overpopulation: 

Overpopulation is one of the major concerns of the Indian economy. The population of India gets increased by about 20% in every decade. Around 17.5% of the world population is possessed by India.

4. Disparities in Income: 

The most alarming thing in the Indian economy is the concentration of wealth. According to the latest report, 1% of Indians own 53% of the wealth of the country. Among this, the top 10% owns a share of 76.30%. The report states that 90% of the country owns less than a quarter of the country’s wealth.

5. Downfall in Capital Formation: Rate of capital formation is positively correlated with lower level of income. There is huge downfall in Gross Domestic Capital compared to the previous years.

6. Poor Infrastructural Development: According to a recent study, around 25% of Indian families cannot have access to electricity and 97 million people cannot have access to safe drinking water. Sanitation services cannot be accessed by 840 million people. India requires 100 million dollar to get rid of this infrastructural backwardness. 

7. Imperfect Market: 

Indian markets are imperfect as there is lack of mobility from one place to another which contracts the optimum utilization of resources. As a result, price fluctuation occurs.

8. Vicious Circle of Poverty: 

India is a perfect example of the term ‘a country is poor because it is poor.’ The vicious circle of poverty traps these countries.

9. Outdated technology:

 Indian production is labour-intensive in nature. There is a lack of modern machinery and technologies. 

10. Backward Society: 

Indian societies are trapped in the curse of caste system, communalism, male-dominated society, superstitions etc. The above factors are the major constraints of growth of Indian economy.

Despite several negative aspects, there are some positive things in Indian economy. Various schemes of the Govt have boosted up Indian economy in many ways. India is leading towards a better economic structure with the help of ‘Make in India’, ‘Digital India,’ etc.       

A resource, in broad sense, refers to anything that enables an individual or an organisation to work effectively. It can be money or it can be the employees of an organisation. The higher the availability of resource more is the value addition. All the natural elements that help us to sustain ourselves in this world are our resources. Some resources have immense economic value while others do not. Many resources have cultural and artistic value too. In today’s technology-driven era, even biological wastes can be converted into efficient resources. Fossil fuel is a great example of this. 

Types of Resources

All resources can be broadly categorized into types- natural resources and man-made resources. They again are of various types. Following are the different types of resources and their significance: 

1. Natural Resources 

All things and resources that are naturally abundant are referred to as natural resource. These can again be classified into:

a. Biotic and Abiotic Resources

Biotic and abiotic resources refer to the living and non-living forms available in nature. Humans, plants and animals fall in the first category while rocks, metals and stones are of second type. These can be renewable and non-renewable also. 

Renewable Resource

Those resources which can renew themselves and are abundant in nature are renewable sources such as wind, sunlight etc. 

Non-renewable Resources

Those which are available in nature in limited quantity and are not able to renew themselves are non-renewable resources. Minerals and fossil fuels are such example. They take millions of years to form and pose a chance to be exhausted. 

b. Potential, Developed and Stock Resources

There are some resources which are available naturally and quite easily too. But till date the full potential of these resources have not been identified by the human being. Such resources are identified as potential resources. In today’s times, these resources are being utilised by the mankind to some extent but there are more to discover. The true potential is yet to be explored. Solar and wind power are two such potential resources. 

There are some resources that we, the human beings, have fully explored and use them extensively. These resources are developed over the time and their full potential is already put to use. Such resources are referred to as developed resources. Fossil fuel is an excellent example of this resource. Minerals and water are also members of this category. Capacities and abilities that we extract from plants and animals for our use till date are also developed resources. 

Lastly, the stock resources- there are other resources available in the nature, which have immense potential to exhibit once they are put to utilisation. But the problem is that there is lack of technology which will be adequate for the utilisation of these resources. This hinders the process of putting these resources to use and they are left as stock resources in the nature. It is a known fact that both hydrogen and oxygen can be used for high energy production. But how to do that is a question that is still unanswered by the scientists. 

2. Manmade Resources 

These refer to resources that are produced by humans from already available natural things. These then functions as value addition elements. These resources are renewable in most cases. Wood, cement, sand, etc are naturally available resources. Man takes them and applies techniques to make buildings or bridges and roads and so on. These are the manmade resources. The technology that is developed almost every day utilising the marvels of science and other natural resources is also a manmade resource. Being renewable, the buildings or other developments can be broken down and rebuilt for numerous times. 

3. Human Resource

The skills and intelligence humans possess, are put to use to make the new man-made resources. Thus, human beings themselves are also rendered as a valuable resource. The knowledge of taking natural resources and developing new valuable resources make for human resource. Stronger human resource ensures efficient growth and development. 

Conservation of Resource

Any resource is largely dependent on their availability. Thus the conservation of these resources is necessary. Saving water and trees or forest is the primary step of resource conservation. Opting for renewable sources like solar and wind power instead of fossil fuels is a wise option. 

Controlled utilisation of the resources would lead to retention of the same. We will be able to use them for longer period and leave some in store for the future generations too. Sustainable development should be concentrated upon. 

Conclusion

Use of resources should be balanced so that the stock is ever exhausted. Utilisation and development of these resources will be such that environment is left unharmed. Then only we can attain sustainability. Our beloved planet earth can remain resourceful only if we are cautious about utilising its resources in a responsible manner.

CFSI and CBSE are the two distinct systems of counselling or syllabus that schools in India follow. Apart from CFSI and CBSE, a third set of councils, developed by the country’s different states, is followed by several schools. 

ICSE – Certificate of Indian Secondary Education is the complete form of the ICSE

CBSE – Central Council of Secondary Education is the complete form of CBSE

CSS – High School Certificate

Click here for more full forms 

There is always a debate in our society as to which advice is the best. To understand the difference, you have to go through the curriculum and the study model for each table. 

There is no better education council. It is a misconception that uneducated people are spreading on the market. The government has provided guidance to NCERT on the type of educational concepts to be taught at each level of schooling and boards of directors would adhere to it.   

Most states in the country have schools that offer CBSE, ICSE and State Board programs to students. It is up to parents and students to decide which advice they want to be admitted to.

• Poverty and the high rate of unemployment in developing countries are the main reason for work of children. 

• According to UN statistics from 2005, more than a quarter of people in the world live in extreme poverty. 

• Lack of access to regular education in many countries; in 2006, about 75 million children left school.

• Violating child labour laws opens the way for an increase in work of children in all developing countries.

• Inadequate social control gives rise to work of children in agriculture or domestic work.

• Limited rights of children or workers who affect to a large extent the standards of job and living conditions in order to eliminate the work of children

• Small children get involved in the work of children to increase the income of their family to manage twice the food.

• They are hired by industries to get more work at a cost of workforce reduced.

Unfortunately, India has the largest number of child labourers in the world. The census revealed an increase in the number of child labourers from 11.28 million in 1991 to 12.59 million in 2001. The MV Foundation in Andhra Pradesh found nearly 400 000 children, mostly girls aged between 7 and 14 years, during 14-16 hours a day in the production of cottonseed across the country of which 90% are employed in Andhra Pradesh. 40% of the workforce in a gem cutting business is children. NGOs have discovered the use of child labourers in the mining industry in Bellary District of Karnataka despite a severe ban on the same. In urban areas, the employment of children in industry of zari and embroidery is high .   

Poverty and lack of social security are the main causes of child labour. The widening gap between rich and poor, privatization of basic services and neoliberal economic policies mean that large segments of the population are without jobs and basic needs. This affects children more than any other group. The entry of multinational companies into the industry without proper mechanisms to hold them accountable has led to the use of child labour. The lack of quality universal education has also contributed to children dropping out of school and entering the labour market. A major concern is that the actual number of child labourers is not detected. Laws that aim to protect children from unsafe work are ineffective and are not enforced properly.

A growing phenomenon is the use of children as domestic servants in urban areas. The conditions under which children work are completely unregulated and they are often forced to work without food, and at very low wages, resembling slavery. There are cases of physical, sexual and emotional abuse of child domestic workers. The argument for domestic work is often that families have placed their children in these homes for care and employment. Recently , the Ministry of Labour reported that child domestic work and child labour in dhabas , tea stalls and restaurants were “dangerous” activities.           

 

Forced child labour is a hidden phenomenon, as the majority of them are in the informal sector. Forced labour means the employment of a person against a loan or a debt or social obligation on the part of the family of the child or the family as a whole. It is a form of slavery. Children who are related to their families or inherit a debt from their parents often find themselves in the agricultural sector or assist their families in brick factories and stone quarries. The individual promise of children is an increasingly common phenomenon that usually leads to child trafficking to urban areas to find employment and to have children work in small production houses compared to factories. Servile workers in India are mostly migrant workers, which opens them up for more exploitation. In addition, they come mainly from low caste groups such as Dalits or marginalized tribal groups. Children in bonded labour face a very high risk of physical and sexual abuse and neglect that can sometimes lead to death. They are often psychologically and mentally disturbed and have not learned a lot of social skills or survival skills.

In 2000, the ILO estimated that 5.5 million children had been forced to work in Asia, while the Liberation Front of Liberated Workers placed 10 million children in India. In 1998, the Government of India rated child labour as a marginal problem with only about 3,000 cases. An investigation in Tamil Nadu in 1995 found that 125,000 child labourers were alone in the state.   

NCR stands for National Capital Region. It is the metropolitan area in India that encompasses the entire territory of Delhi and the urban areas of States neighbours ; Haryana, Uttar Pradesh and Rajasthan. 

Thus, Delhi with the urban areas of States neighbours is known as the National Capital Region.