Macroeconomics helps to evaluate the resources and capabilities of an economy, churn out ways to increase the national income, boost productivity, and create job opportunities to upscale an economy in terms of monetary development.

Some major achievements of the Five Year Plans are:

1. Increase in National Income: The National Income of India increased at the rate of 0.5% per annum prior to planning. The average annual growth rate in India had been around 5% during the period of planning
2. Growth and Diversification of Industry: During the period of planning, the growth rate of industrial production has been around 7% per annum. Basic and capital goods industries have shown tremendous growth. In consumer goods industries, the country has become self-sufficient. Industrial sector has been diversified and modernised.
3. Increase in Per Capita Income: Per Capita Income increased at the rate of 2.9% per annum during the planning period
4. Institutional and Technical Changes in Agriculture: Planning has contributed tremendously towards the development of agriculture in our country. During the period of planning, the average growth rate of agricultural produce was 2.8% per annum.
5. Economic and Social Infrastructure: During the period of planning, economic infrastructures such as means of transport and communication, irrigation facilities and power, banking and insurance facilities have shown significant growth. Health and educational facilities have recorded a significant rise.
6. Employment: Concentrated efforts have been made to increase employment opportunities during the plan period. The government fixed the target of creating 58 million jobs In the Eleventh Five Year Plan. The Twelfth Plan aims at creating 70 million jobs.
7. International Trade: India’s international trade has also grown at a phenomenal rate. In 1948-49, the value of foreign trade was Rs. 792 crore. In 2011-2012, it stood at Rs. 38,11,422 crore.
   So, we can say that our economy showed considerable progress during the plan period.

Calculate GNP Fc

There are two types of bank in our banking system one is central bank and another is commercial bank (Bank of Baroda, BOI)... Central bank is an imp institution of our economy as it does the work of issue of money, controlling credit through various policies it is bank of govt as bank does all its transaction through central bank and eve it help in suggesting financial maters, it also said as lender of last resolvt as whenever the commercial bank fails to get finance from other it can reach RIB so its know as last resolvt...It also performs various open market operations through direct sale or purchase of securities.. Commercial Banks are the banks which have a basic function of lending loans and accepting deposits(money which a person keeps in bank).. It also has some agency functions like collection of bill, int premiums, etc and also some service facilities like ATM, RTGS, locker etc

Circular flow of income in a two-sector economy without savings and investment: Participants of the two-sector economy are households and producers. The flow of money from producers to households as payments for the purchase of factor services has been a continuous process. So, there has been the flow of money from households to producers as payments for the purchase of consumer goods and services, This non-stop continuity of inter-sectoral flows is called 'circularity of flows'.

The rationale behind choosing Self-reliance as a planning objective for the Indian economy are as follows:-

1. To reduce foreign dependence: Planning objective of Self-reliance targeted to promote economic growth and modernization, the Indian five-year plans in the early years of the post-independence era stressed the use of domestic resources in order to reduce our dependence on foreign countries.
2. To avoid foreign interference: In the post-independence era, it was feared that the dependence on imported food supplies, foreign technology, and foreign capital may increase foreign interference in the policies of our country.

Macroeconomics is the branch of economy that deals with the economy as a whole. It takes into account various interlinkages which may exist between the different sectors of economy. It emerged as a separate subject in the 1930s due to Keynes.

Macroeconomics is defined as ít is a branch of economics which studies economic issues or economic problems at the level of an economy as a whole

Large economy

GDP at MP =national income + consumption of fixed capital + factor income to abroad+ indirect taxes - subsidies 6700+180+150+130-70 = 1079

Excess of money supply will lead to an increase in general price level prevailing in the economy (or inflation) because the production of goods and services will remain the same.

Central Bank have power toh credit money

Budget receipt and budget expenditure Budget receipt include- 1 capital receipt 2 revenue receipt Budget expenditure include- 1 capital expenditure 2 revenue expenditure

GDP mp - nit

India Domestic Credit increased 11.6 % YoY in Sep 2022, compared with an increase of 11.2 % YoY in the previous month See the table below for more data.

1 It increases production of good grains 2 It increases GDP 3 It increases the buffer stock to be kept at when the shortage of food arises

Self sufficiency in India Commercial mindset of farmers Farmers could keep pace with market uncertainties

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Inflation and deflation

The rationale behind choosing Self-reliance as a planning objective for the Indian economy are as follows:-

1. To reduce foreign dependence: Planning objective of Self-reliance targeted to promote economic growth and modernization, the Indian five-year plans in the early years of the post-independence era stressed the use of domestic resources in order to reduce our dependence on foreign countries.
2. To avoid foreign interference: In the post-independence era, it was feared that the dependence on imported food supplies, foreign technology, and foreign capital may increase foreign interference in the policies of our country.

National income through income method is calculated by measuring the aggregate value of factor payment. NI = R + W + I + P + MI + (X-M) Through measuring the aggregate value of spending received by the firms, we can calculate National Income. This method is known as Expenditure method. NI = C+ I+ G+ (X-M) +(R-P)

Following are the characteristics of Indian economy at the eve of independence:

1. Semi-feudal Economy- India was a mixture of feudal economy and capitalist economy.  Zamindars acted as middlemen between the British government and the farmers. Zamindars grew rich by unduly suppressing the poor farmers.
2. Backward Economy and Stagnant Economy- The British government exploited the Indian economy in a selfish manner. They did not develop any income-earning abilities of the Indians. National products grew at a very slow rate of 0.5% per year. There was widespread poverty. A stagnant economy is an economy which is characterised by a prolonged period of slow economic growth.
3. Heavy dependence on imports: India was relying on imports of Essential goods from other countries especially food grains. 
4. Depleted Economy- Even though India was not involved in World Wars I and II, all the expenses were charged to India. Capital goods were used without any proper repairs and maintenance. Natural resources were exploited to the maximum extent.
5. Disintegrated Economy- The Partition of India created a shortage of raw materials for jute and cotton mills as most of the cotton and jute growing areas went to Pakistan. The Partition resulted in the loss of the market and problem of rehabilitation of a large number of refugees from Pakistan.
6. Colonial Economy- The British government transformed the Indian economy into a colonial economy totally dependent on British and allied countries.

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The money supply can be increased in an economy by purchasing government securities such as treasury bills and government bonds. The reverse happens when the central bank tightens the money supply, by selling securities on the open market, drawing liquid funds out of the banking system.

In the case of contemporary employment, the current prevailing situation in India is that there is lack of employment.

 

The issue of unemployment has existed in India for a long time now.

 

There have been increasing issues for the youth who graduate from good universities but go out into the market which is making people redundant.

 

There would be issues for reservation in such cases.

 

Reservation is the case, where the Indian government chooses a certain gender. Example, giving jobs to men over women due to personal gains. This affects the growth system in an economy

As far as I know there is no term 1 and term 2 in 2022-2023 session _

Equal distribution means that every individual in the society gets the name share in the country's is national income. Equitable distribution, on the other hand, refers to a situation where differences in income are allowed but only within certain limits.

What do you mean by balance of payments

It is a territorial concept as it includes all final goods and services are produced with in the territory of a country during a period of one year.

When saving is greater than investment then employment arises and when saving is less than investment then unemployment arises.