1. GROWTH AND DEVELOPMENT  Both growth and development refer to changes over a period of time.  Growth :-  Quantitative and value neutral change .  Positive or a negative sign.  Development :-  Qualitative change which is always value positive.  Development occurs when positive growth takes place.  For example, if the population of a city grows from one lakh to two lakhs over a period of time, we say the city has grown.  However, if facilities like housing, provision of basic services and other characteristics remain the same, then this growth has not been accompanied by development.
2.  The quality of life people enjoy in a country, the opportunities they have and freedoms they enjoy, are important aspects of development.  The concept of human development was introduced by Dr. Mahbub-ul-haq.  Dr. Haq has described human development as development that enlarges people’s choices and improves their lives.

Click on the given link for project:

<a href="https://www.slideshare.net/sarangmeshram2/hdihuman-development-index-48158169" ping="/url?sa=t&source=web&rct=j&url=https://www.slideshare.net/sarangmeshram2/hdihuman-development-index-48158169&ved=2ahUKEwjN1-eP4e_sAhUDzzgGHWMODDoQFjAPegQIAhAC" rel="noopener" target="_blank">HDI(Human Development Index) - SlideShare</a>

1. Structural Unemployment: This unemployment arises when there is a mismatch between the worker’s skills and availability of jobs in the market. Many people in India do not get job matching to their skills or due to lack of required skills they do not get jobs and because of poor education level, it becomes important to provide them related training. 
2. Cyclical Unemployment: unemployment caused due to the business cycle, where the number of unemployed heads rises during recessions and declines with the growth of the economy. Cyclical unemployment figures in India are negligible. 

An economic plan allocates the resources of a nation to fulfil the general and specific goals as planned by the government for a specified period. In India, these plans are made for five years and hence are known as five year plans. These five year plans are ultimately a short-term plan for a perspective plan. A perspective plan outlines the long-term goals of a nation, spanning twenty years.

In India, after the independence, the government set up a Planning Commision in 1950. This commission would be responsible for framing and implementing the five year plans of the country. They began their efforts with the first five year plan in 1950.

The Goals of the Five Year Plans

Every five year plan is developed with a specific goal in mind. But there is never one solitary objective of the plan. The plan is supposed to work towards the perspective plan and must cover a few important objectives. However, it is not possible or practical to give equal importance to all aspects of a plan.

There are basically five generalized goals of a five year plan, wherein a particular plan one or two are given the most importance. In fact, some of the goals are actually conflicting. So let us now look at these five types of goals we cover in the five year plans.

Industrial licensing is an authority issued by the government organisation to permit the institution or organisation for starting an industry or to start certain function. Governments can take many different actions to influence the allocation of resources. Some of the most common actions include subsidies, tax incentives, or preferential credit treatment. Subsidies are direct or indirect payments that are given to an individual, business, or industry as a form of financial support.

Difference between net exports and net factor income from abroad ( NFIA):

1) Net exports refers to the difference between exports and imports. While net factor income from abroad is the difference between factor income from abroad and factor income to abroad.

2) Net exports is a domestic concept while NFIA is a national concept.

3) Net exports includes non- factor services while NFIA includes only factor services.

Major reasons for poverty in India are:
(i) The low level of economic development under the British colonial administration. The policies of the colonial government ruined traditional handicrafts and discouraged the development of industries like textiles. The low rate of growth persisted until the 1980s. This resulted in fewer job opportunities and a low growth rate of incomes. This was accompanied by a high growth rate of the population. The two combined to make the growth rate of per capita income very low.

(ii) Lack of job opportunities: Lack of job opportunities compelled many people to work as rickshaw pullers, vendors, construction workers, domestic servants, etc. With irregular small incomes, these people could not afford expensive housing. They started living in slums on the outskirts of the cities.
(iii) Huge income inequalities: One of the major reasons for this is the unequal distribution of land and other resources. Major policy initiatives like land reforms that aimed at the redistribution of assets in rural areas have not been implemented properly by most of the state governments.

(iv) Lack of land resources has been one of the major causes of poverty in India.

(v) A high level of indebtedness among small farmers is also a major cause of poverty in our country. Since poor farmers hardly have any savings, they borrow. Unable to repay because of poverty, they become victims of indebtedness.

(i) ‘Make in India' will increase supply (inflow) of foreign exchange in India causing improvement in the balance of payments position. (ii) Import of pulses will lead to outflow of foreign exchange from the country causing adverse effect on balance of payment position.

(a) "Make in India" programme will have favourable effect on balance of payments. Because: (i) It will reduce the imports of commodities which will be made in India. Ultimately, we will be in the position to export. This will make BOP favourable. (ii) It will help in import substitution. (b) Imports of pulses: It will make balance of payments adverse. Because of imports we will have to make payments.

The life expectancy in India during the British rule was 32 years. Now it is near about 50-55 minimum.

 Margin requirement refers to the difference between the current value of the security offered for loan (called collateral) and the value of loan granted. It is a qualitative method of credit control adopted by the central bank in order to stabilize the economy from inflation or deflation. In case of inflation, the margin requirement is increased so that demand for loans are decreased and in case of deflation, margin requirements are decreased so that demand for loans are increased. For example- a person mortgages his house worth one crore rupees with the bank for a loan of 80 lakh rupees . The margin requirement in this case will be 20 lakh rupees.

India and Pakistan both have followed a similar developmental strategy. The main similarities between the developmental strategies can be summed up as: 

i. India and Pakistan both have started their developmental programmes based on economic planning soon after their independence in 1947.

ii. Both the countries relied on the public sector for initiating the process of growth and development. 

iii. Both of them have followed the path of mixed economic structure involving the participation of both the state as well as the private sector. 

iv. Both of them introduced economic reforms at the same time to strengthen their economies. 

The Great Leap Forward (GLF) was a campaign initiated in 1958 in China. The aims of this campaign are as follows:

1. The aim of the campaign was to initiate large scale industrialisation in the country concentrating not only in the urban areas but also in the rural ones. 
2. The people in the urban areas were motivated to set up industries in their backyards.
3. In the rural areas, Commune System was implemented. Under this system, people were engaged in collective farming. 

) In China, due to topographic and climatic conditions, the area suitable for cultivation is relatively small — only about 10 per cent of its total land area. The total cultivable area in China accounts for 40 per cent of the cultivable area in India. Until the 1980s, more than 80 per cent of the people in China were dependent on farming as their sole source of livelihood. (b) Since then, the government encouraged people to leave their fields and pursue other activities such as handicrafts, commerce and transport. In 2014–15, with 28 per cent of its workforce engaged in agriculture, its contribution to the GDP in China is 9 per cent. (c) In both India and Pakistan, the contribution of agriculture to GDP were 17 and 25 per cent, respectively, but the proportion of workforce that works in this sector is more in India. In Pakistan, about 43 per cent of people work in agriculture, whereas, in India, it is 50 per cent. (d) The sectoral share of output and employment also shows that in all three economies, the industry and service sectors have less proportion of workforce but contribute more in terms of output. In China, manufacturing and service sectors contribute the highest to GDP at 43 and 48 per cent, respectively whereas in India and Pakistan, it is the service sector which contributes the highest by more than 50 per cent of GDP. In the normal course of development, countries first shift their employment and output from agriculture to manufacturing and then to services. (f) This is what is happening in China as can be seen from Table. The proportion of workforce engaged in manufacturing in India and Pakistan were low at 21 and 23 per cent respectively. The contribution of industries to GDP is at 30 per cent in India and 21 per cent in Pakistan. (g) In these countries, the shift is taking place directly to the service sector. Thus, in both India and Pakistan, the service sector is emerging as a major player of development. It contributes more to GDP and, at the same time, emerges as a prospective employer. If we look at the proportion of workforce in the1980s, Pakistan was faster in shifting its workforce to service sector than India and China. (h) India, China and Pakistan employed 17, 12 and 27 per cent of its workforce in the service sector respectively. In 2014, it has reached the level of 29, 43 and 34 per cent, respectively. (i) In the last three decades, the growth of agriculture sector, which employs the largest proportion of workforce in all the three countries, has declined. In the industrial sector, China has maintained a near double-digit growth rate whereas for India and Pakistan growth rate has declined. (j) In case of service sector, China was able to raise its rate of growth during 1980–2015, while India and Pakistan stagnated with its service sector growth. Thus, China’s growth is mainly contributed by the manufacturing and service sectors and India’s growth by the service sector

he important demographic indicators of Indian, China and Pakistan are tabulated as below.

             Demographic Indicators, 2000-01

The important demographic indicators are as follows:

a) Total Population: China is the largest populated country in the world followed by India. The above table depicts that China’s population in 2000-01 was approximately 1303.7 million and that of India and Pakistan was 1103.6 million and 162.4 million respectively.

b)Annual Growth Rate of Population: Although China is the largest populated country but a strong positive point for China is that, its annual growth rate of population is just 1% per annum while that of India and Pakistan is 1.7% and 2.5% per annum. With such a high growth rate it would not be wrong to expect that in the forthcoming decades India will surpass the total population of China.

c)Density of Population: In spite of the fact that China is highly populated and geographically occupying the largest area among the three nations, its density of population is the lowest. It is as low as 138 persons per square kilometer of area compared to 358 and 193 persons in India and Pakistan respectively. Lower the degree of density of population the lower is the pressure on the country’s natural resources and higher is the probability of sustainable development.

d)*** Ratio: This ratio counts the number of females per 1000 males. The *** ratios in all the three countries are almost same with China having a marginally higher *** ratio of 937 females per 1000 males. This depicts the low economic and social status of women in India and Pakistan.

e)Fertility Rate: This rate refers to the number of children a woman gives birth to during her lifetime. China enjoys an upper hand in this case. The fertility rate of Chinese woman is only 1.8 whereas those of India and Pakistan are 3.0 and 5.1. This implies that in India and Pakistan a woman usually gives birth to approximately 3 and 5 children. This is the most important concern for both India and Pakistan, as with such a high fertility rate, population in the coming decades will surpass that of China.

f)Urbanisation: Lastly, China is comparatively more urbanised than India and Pakistan. The rate of urbanisation in China is 36.1% while that in India and Pakistan is 27.8% and 33.4% respectively.  The degree of urbanisation depicts the standard and quality of living of people of a particular country. Also, this confirms the shift in the economic structure of an economy. Higher degree of urbanisation reveals higher industrialisation and development of tertiary sector in the economy.

Thus to sum up, although China is the largest populated country but its other demographic indicators are stronger than those of both India and Pakistan. It would not be wrong to expect a decline in China’s population in the coming decades due to implementation of various policy measures and also due to low annual growth rate of population.

A few such similarities in their development strategies are as follows: All three countries, India, Pakistan and China began towards their economic development at the same time. In addition, India and Pakistan attained independence in the year 1947. However, China was an independent economy in the year 1949. Economic reforms took place in all the three countries. Reforms started in India in 1991, in China in 1978 and in Pakistan in 1988. Economic reforms took place in all the three countries. Reforms started in India in 1991, in China in 1978 and in Pakistan in 1988.

Chinese Development Strategies

• China is a unique blend of market and command economy, but the market is gaining importance
• For many years China has practiced export-led growth with exports exceeding 40% of GDP
• Investment has been a huge growth driver – it was 46% of GDP in 2010. By comparison, Japan in its 1970s boom topped out at 36%, while Korea's share peaked at 39% in the 1990s.
• The surplus on the balance of payments current account has fallen from over 10% of GDP in 2007 to less than 6% in 2011
• Korea, Japan, Germany and Switzerland run trade surpluses with China because they are able to export the high-value manufactured items, particularly investment goods, China needs
• The emphasis of China's growth policy is changing. A quote from Premier Wen Jiabao is central to this - 'China's economy needs to be put on the path of endogenous growth driven by innovation'

Agriculture was the main occupation of the people of the Chinese civilisation. Crops grown included rice, wheat, millet, barley and soya bean. Tea was also grown for the first time by the Chinese. In the beginning, tea was cultivated for exclusively medicinal purposes. It was only later that it was grown for beverage use. An elaborate irrigation system was put in place in order to ensure surplus food production. This reinforced the growth of the Chinese civilisation.

As of 2019, GDP of India is around of 10 times greater than Pakistan. In nominal terms gap is wider (above 10 times) than ppp terms (below 10 times). India is 5th largest country of the world in nominal method and 3rd largest economy in ppp method. Nominal ranking of Pakistan is 43 and PPP ranking is 25. India's economically largest states Maharashtra has GDP ($334 billion) greater than Pakistan. Margin between these two countries was lowest in 1993 when Nominal GDP of India was 5.43x of Pakistan and highest was in 1973 (13.53x).

Both countries together share 9.78% and 18.15% of total Asia's GDP.

Both countries has been neck-to-neck in gdp per capita terms. Margin is being wider in favour of India since 2009. In 2019, per capita income of India would be 1.62 times all time higher than Pakistan on exchange rate basis. 2006 is the previous year when Pakistan was more richer than India. Both nations are at very lower position in World GDP per capita ranking. rank of India is 145 (nominal) and 126 (PPP). World rank of Pakistan is 156 (nominal) and 140 (PPP). Out of 33 Indian states/UTs, 28 states/UTs are more richer than Pakistan.

India attains maximum gdp growth rate of 9.63% in year 1988 and minimum -5.24% in 1979. Pakistan reached an all time high of 10.35% in 1970 and a record low of 0.47% in 1971. During period 1961 to 2017, Pakistan grew by more than 10% in 3 years while India never. GDP growth rate was negative in four years for India, but Pakistan has never showed negative growth rate.

According to CIA Fackbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of Pakistan in 2017 are : Agriculture (24.7%), Industry (19.1%) and Services (56.3%).

Starting 1978, several reforms were introduced in phases in China. First, agriculture, foreign trade and investment sectors were taken up. Commune lands were divided into small plots. These were allotted to individual households for cultivation.
The reforms were expanded to industrial sector. Private firms were allowed to set up manufacturing units. Also, local collectives or cooperatives could produce goods. This meant competition between the newly sanctioned private sector and the old state-owned enterprises.
This kind of reform in China brought in the necessity of dual pricing. This meant the farmers and industrial units were to buy and sell fixed quantities of raw material and products on the basis of prices fixed by the government. As production increased, the material transacted through the open market also rose in quantity. Special Economic Zones (SEZs) were set up in China to attract foreign investors.

Like the development path of India, Pakistan also followed the import substitution strategy. This was achieved through tariff and other trade barriers that restricted foreign competition. The motive was to make foreign products expensive relative to domestic ones, thereby giving a thrust to domestic industries.

Pakistan follows a mixed economy system, where the public and private sectors co-exist. The green revolution was aimed to increase domestic food grain production in Pakistan. Until the 1970s, domestic industries were given priority. In the 1980s, importance was given to the private sector. New investment was invited and the economy opened up to the rest of the world.

Both India and Pakistan have benefited from a mixed economic system, in that they have been able to maintain high economic growth rates despite high rates of growth of population. The countries have been able to develop a service sector and have used technology increasingly in their production processes. Poverty remains to plague their economies, however. Unemployment is a major concern in India and Pakistan, as the working population is on the rise and commensurate jobs are less in number.

A commune is an intentional community of people sharing living spaces, interests, values, beliefs, and often property, possessions, and resources in common. In some communes, the people also share common work, income or assets.