Indiscriminate use of pesticides may result in the degradation of the environment. For example, DDT is an organic pesticide which is used to kill pests in crop fields. When it is used in large quantity it can be passed along the food chain from crops to man or other animals and birds and can harm them.

This can be accomplished through reductions in government spending, tax increases, bond and securities issues, and transfer payment reductions. These adjustments to the fiscal conditions within the economy can serve to restore economic equilibrium.

Where is data?

Pump priming is the action taken to stimulate an economy, usually during a recessionary period, through government spending and interest rate and tax reductions. The term pump priming is derived from the operation of older pumps - a suction valve had to be primed with water so that the pump would function properly.

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.

Following table shows the growth rate of GDP percentages (%).

From the above table, the following points emerge:

1. In the 1980s, Pakistan and China were ahead of India and India was at the bottom.
2. In 2011-15, the growth rate of Pakistan declined but India’s growth rate increased.
3. In the 2011-15, the growth rate of China also declined.

The growth of the agricultural sector which employs the largest proportion of the workforce in the two countries has declined. In the industrial sector, China has maintained a double-digit growth rate whereas for India growth rate has declined. In the case of the service sector, India has been able to raise its growth rate in the 1990s while China reduced the service sector growth rate. 

The agricultural diversification implies diversification of crop production and shifting of agricultural workforce to other allied activities such as livestock, poultry, fisheries, etc and non-agricultural sector. Diversification of crops implies production of a diverse variety of crops rather than 1 specialised crop.  Diversification is essential because there is greater risk in depending exclusively on farming for a livelihood and to provide productive sustainable livelihood options to rural people. Most of the agricultural employment activities are concentrated in the Kharif season while during the Rabi season it becomes difficult to find gainful employment in areas lacking in irrigation facilities.
Therefore, expansion into other sectors is essential to provide supplementary gainful employment and in realising higher levels of income for rural people to overcome poverty and other problems. A substantial portion of Indian farming is dependent on the vagaries of monsoon, making it a risky affair to rely upon solely. Accordingly, the need for diversification is required to enable the farmers to earn from other alternative non-farm occupations. Also, agriculture being overcrowded cannot further generate employment opportunities. Therefore, the prospects of the non-farm sectors should be opened up in rural areas to provide job opportunities This lessens the excess burden on agriculture by reducing disguised unemployment.

Aggregate demand and supply define the level of income and employment at which the economy is in balance. Determination of equilibrium income, according to Keynesian theory, is established when aggregate demand, represented by the C + I curve, equals total output (Aggregate Supply or AS).

China announced its First Five Year Plan in 1953. India and Pakistan adopted similar strategies such as creating a large public sector and raising public expenditure on social development. Till the 1980s, all the three countries had similar growth rates and per capita incomes

Producer goods are all those goods which are used in the process of production i.e., which are used in the production of other goods. Producers goods include two types of goods:

1. Single-use Producer Goods: Goods used as raw material by the producers. It includes raw material like coal, wood etc. They are not capital goods as they cannot be repeatedly used in the production process.
2. Capital Goods: Goods which are used as fixed assets by the producers, like plant and machinery, which can be repeatedly used in the production process.

So, it can be said that all capital goods are producer goods, but all producer goods are not capital goods . eg. wood used in making furniture is a producer good but it is not a capital good as the wood can be used for one furniture only. The same wood cannot be repeated for another furniture.

Aggregate demand and supply define the level of income and employment at which the economy is in balance. Determination of equilibrium income, according to Keynesian theory, is established when aggregate demand, represented by the C + I curve, equals total output (Aggregate Supply or AS).

Aggregate demand and supply define the level of income and employment at which the economy is in balance. Determination of equilibrium income, according to Keynesian theory, is established when aggregate demand, represented by the C + I curve, equals total output (Aggregate Supply or AS).