IGNOU MEC 105 Solved Assignment 2022-23 : MEC 105 Solved Assignment 2023 , MEC 105 Solved Assignment 2022-23, MEC 105 Assignment 2022-23 , MEC 105 Assignment, IGNOU MEC 105 Solved Assignment 2022-23 IGNOU Assignments 2022-23- Gandhi National Open University had recently uploaded the assignments of the present session for MEG Programme for the year 2022-23. Students are recommended to download their Assignments from this webpage itself.
IGNOU MEC 105 Solved Assignment 2022-23
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Important Note – IGNOU MEC 105 Solved Assignment 2022-23 You may be aware that you need to submit your assignments before you can appear for the Term End Exams. Please remember to keep a copy of your completed assignment, just in case the one you submitted is lost in transit.
Submission Date :
- 31st March 2033 (if enrolled in the July 2033 Session)
- 30th Sept, 2033 (if enrolled in the January 2033 session).
SECTION – A
1. “The sequence of growth process in India is different from what other countries faced during the transition from developing to a developed nation.” Examine this statement and give an account for the causes of rapid growth of the tertiary sector in India.
Ans. The importance of the Tertiary sector is rising because of the following reasons.
(i) This sector provides basic services such as hospitals, educational institutions, post and telegraph services, police stations, courts, municipal corporations, defence, banks, insurance etc. which are basic for the development of the country.
(i) This sector provides services such as transport, trade, storage etc. which help in the development of the agriculture or the Primary sector and the industries or the Secondary sector.
(iii) Increasing income level has created demands for many more services like eating out, tourism, shopping, private hospitals. private schools etc.
(iv) Over the last decade, or so, certain new services such as those based on information and communication technology have become important and essential.
(v) The production of these services has been rising rapidly.
Tertiary sector contributes massively to the GDP of India. It has played a crucial role in the economic development of India. Tertiary sector provides huge employment opportunities in India. Tertiary sector has attracted lots of foreign investments in India.
Major part of India’s exports comes from the Services sector. Some of the wide variety and highly important activities in the Services sector are I.T. industry, communication, finance, real estate, transportation, trade, tourism, hotels, etc.
The process of economic development in an economy results in distinct structural changes. As a country progresses and the gross domestic product (GDP) basket enlarges, a shift in economic activity occurs away from agriculture towards services and manufacturing sectors, owing to higher elasticity of the latter two sectors than that of former sector (Fisher, 1939 and Clark, 1940). The process in turn leads to structural shifts, and consequent diminishing significance of primary activities and growing dominance of secondary and tertiary activities. This process brings with it significant changes in the production process, consumption pattern and various other social indicators.
As per the standard literature on the subject, services sector experiences an accelerated growth only after a certain level of development has taken place in agriculture and industry. Experiences of the economies over-time, in this regard, have been varied. For instance, in most of the developed economies, economic development followed a sequence wherein sectors viz. agriculture, industry and services sector developed in that order. On the contrary, the experience of some of countries such as India bears out that subsequent to the development of the primary sector, tertiary sector developed without a successful transition to an industrialised economy.
From a traditional agro-economy till the 1970s, the Indian economy has transformed into a predominantly services-oriented economy, especially since the mid 1980s. Economic reforms initiated in the mid-eighties and their execution from early nineties has seen the share of services sector in GDP rising continuously for the Indian economy. The shift in composition of GDP has brought about substantial changes in the inter-sectoral production and demand linkages. Further, with the growing tertiarisation of the economy, there has been a phenomenal growth in distributive, communication, consumer and financial services, which, in turn, drives from increased demand from the commodity producing sectors. This brings to fore the issue as to how the tertiary sector is linked up with the two commodity-producing sectors in the economy.
Investigation of structural relationships among the sectors becomes important from the policy perspective. It helps one understand not only the evolution and progression of such relationships but also the inter-sectoral adjustments over time. A clear perspective on the inter-sectoral dynamics could be useful in devising a conducive and appropriate development strategy. Further, sharp divergences in growth rates of different sectors are found to have serious implications for income distribution, inflation and current account deficit of an economy. A proper comprehension of the characteristics and trend of sectoral linkages also assumes importance in designing socially-just policies as also effective monetary/credit policies. The study of sectoral inter-linkages is all the more important for a developing country like India so that positive growth stimuli among sectors could be identified and fostered to sustain the economic growth momentum. This would go a long way in redressing various socio-economic problems such as poverty, unemployment and inequality.
SECTION – B
3. Critically evaluate the impact of economic reforms on the external sector.
Ans. The section then goes on to analyse the external sector reforms in the nineties and their impact and puts them in comparative international reforms that enhance openness will therefore strengthen not only the external sector but also the competitiveness of the Indian economy.
One result of the BOP crisis of 1990-91 was to create the conditions under which a retired professional economist with wide experience in government and universally well-regarded for his sincerity and integrity could become the finance minister of India. The prime minister of the time deserves full credit for grabbing this opportunity, despite the heartburn that it caused among the members of his party and despite heading a minority government. The new Finance Minister, having been the government’s top economic bureaucrat during the previous decade, had been instrumental in raising economic expertise within the government, by bringing a number of market-savvy economists into the government. He was, therefore, relatively well-positioned to make the move from a socialist-inspired approach to economic development to a market-oriented approach. The new government in July 1991 initiated a new approach to economic development policy. It recognised that only correcting the underlying macroeconomic imbalance and replacing the oppressive system of controls by the discipline of market competition could overcome the BOP crisis. The new finance minister and his chosen team of advisors were aware that in many countries the textbook macro solution for a BOP crisis had led to a slowing of private investment and growth in the two years (and often for longer periods) following the macro adjustment. They were also aware of the remarkable growth rates and poverty reduction achieved by the more open economies of east and south Asia during the previous two decades. Extensive decontrol and delicensing was recognised as necessary to release the productive potential of Indian entrepreneurs, reduce the period of private investment and growth slowdown and raise the underlying growth rate of the Indian economy. It was also clearly recognised that the best way to put the BOP on a long-term sustainable path was through comprehensive liberalisation of international trade, finance/capital inflows and the exchange regime. The phasing and timing of liberalisation were, however, determined not only by the exigencies of the economic situation, but also the problem of calming genuine fears, convincing ideological diehards, and overcoming vested interests, both within and outside the government.
The comprehensive import control (or quantitative restrictions (QRs)) regime was gradually dismantled, starting with capital and intermediate goods and moving after a period of slowdown to consumer goods. The slowdown was due to the differing nature of these two sets of goods. In the case of intermediate and capital goods, the gainers and losers are more evenly balanced, while for consumer goods the potential beneficiaries are fragmented and unorganised and no match for concentrated number of easily organised opponents. Tariff rates were brought down over a decade from a peak rate of about 300 per cent to a peak rate of 35 per cent. The problems of overdependence on debt and the high proportion of short-term debt were addressed by liberalising FDI and foreign equity (foreign institutional investment, FII) inflows while keeping a very tight lid on short-term debt obligations and maintaining the control regime for external commercial borrowing (ECB). A comprehensive reform of the exchange control regime was undertaken based on thorough perspective. External reforms were among the most successful reforms undertaken in India during the nineties. These reforms have opened up the economy, strengthened the external account, and made it much less vulnerable to shocks. India’s trade share rose by 0.11 per cent of world trade during the nineties raising India’s world ranking by six positions. India also became more open in terms of capital flows with its rank in terms of foreign direct investment (FDI) inflows rising by nine positions. Equity inflows increased even more rapidly to raise India’s rank among the emerging markets by eight positions during the nineties. In 1999 only 13 emerging markets received more FDI than India and only five received more equity inflows. Of these China, South Korea, Thailand, and Brazil had larger inflows of both FDI and foreign equity than India during this year.
4. Discuss the nature of crises in Indian agriculture. Which steps would you like to suggest to meet these crises?
5. Critically evaluate the various steps taken by Government of India towards removal of regional disparities.
6. Examine the role and significance of well developed money market in the process of economic growth of a country.
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IGNOU MEC 105 Solved Assignment 2022-23
7. Go through the website http://info.worldbankorg/governance/wgi of worldwide governance indicators Project and study the aggregate indicators for India. How has India fared in different dimensions of governance?
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IGNOU Instructions for the MEC 105 SOCIAL STRATIFICATION
IGNOU MEC 105 Solved Assignment 2022-23 Before attempting the assignment, please read the following instructions carefully.
- Read the detailed instructions about the assignment given in the Handbook and Programme Guide.
- Write your enrolment number, name, full address and date on the top right corner of the first page of your response sheet(s).
- Write the course title, assignment number and the name of the study centre you are attached to in the centre of the first page of your response sheet(s).
- Use only foolscap size paperfor your response and tag all the pages carefully
- Write the relevant question number with each answer.
- You should write in your own handwriting.
GUIDELINES FOR IGNOU Assignments 2022-23
MEC 105 Solved Assignment 2022-23 You will find it useful to keep the following points in mind:
- Planning: Read the questions carefully. IGNOU MEC 105 Solved Assignment 2022-23 Download PDF Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
- Organisation: Be a little more selective and analytic before drawing up a rough outline of your answer. In an essay-type question, give adequate attention to your introduction and conclusion. IGNOU MEC 105 Solved Assignment 2022-23 Download PDF The introduction must offer your brief interpretation of the question and how you propose to develop it. The conclusion must summarise your response to the question. In the course of your answer, you may like to make references to other texts or critics as this will add some depth to your analysis.
- Presentation: IGNOU MEC 105 Solved Assignment 2022-23 Download PDF Once you are satisfied with your answers, you can write down the final version for submission, writing each answer neatly and underlining the points you wish to emphasize.
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