What is Demographic Cycle or Demographic Transition Model?

Sansar LochanIndian EconomyLeave a Comment

The “Demographic Transition Model” (DTM) or “Demographic cycle” is a model used to represent the process of population transformation of countries from high birth rates and high death rates to low birth rates and low death rates as part of the economic development process of a country. It is a from a pre-industrial to an industrialized economy. It is largely … Read More

[Explained] Solar Energy – Thermal Solar Power and Solar Photovoltaic

Sansar LochanIndian EconomyLeave a Comment

Solar energy is an important source of non-conventional energy. Sun is the main source of energy for all the living beings. Man is using the solar energy in different ways since ancient times. It is cheap, widely available, renewable, inexhaustible, eco-friendly and sustainable source of energy. It is now being used from many purposes such as, water heating, space heating, … Read More

Marshall’s Definition of Economics and its Criticism

Sansar LochanIndian Economy1 Comment

Alfred Marshall was one of the pioneers of modern economics. His approach to Economics as a science is unique and peculiar. However it has met strong criticism as well. It will be interesting to know his definition of economics. Below an attempt has been made to throw light on Marshall’s views on Economics. Features of Marshall’s Definition of Economics Study of … Read More

The Budget of India : The Annual Financial Statement

Sansar LochanIndian EconomyLeave a Comment

budget

According to the first clause of Article 112, “Every year the President causes to be placed before both the Houses of Parliament the annual financial statement, or the budget, in respect of “the estimated receipts and expenditure of the Government of India for that year”. The presentation of the budget by the Financial Minister customarily on the last day of … Read More