Skip to main content

League of Nation: The international organization between two World Wars

  The League of Nations was an intergovernmental organization founded on January 10, 1920, as part of the Treaty of Versailles that ended World War I. It was established with the aim of promoting international cooperation, resolving disputes, and preventing future conflicts. The League of Nations was proposed by President Woodrow Wilson of the United States as one of his Fourteen Points for peace. The League's charter was included in the Treaty of Versailles, which was signed by the victorious Allied powers and Germany. The League's headquarters were located in Geneva, Switzerland. The League of Nations consisted of two main bodies: the Assembly and the Council. The Assembly served as a forum for all member states to discuss and vote on important issues, while the Council was responsible for making decisions and taking action on matters of international concern. The Council consisted of permanent members (the United Kingdom, France, Italy, Japan) and non-permanent members e...
Post a Comment

What is Hindu Rate of Growth? Why is it in news?| Indian Economy

The term "Hindu rate of growth" refers to the low growth rate of the Indian economy in the post-independence era, particularly from the 1950s to the 1980s. The term was coined by the Indian economist Raj Krishna in the 1970s to describe the slow rate of economic growth in India during that time period. The concept and idea of Hindu Rate of Growth has created much confusion among people and in this article we try to make it clear.

During the period of the "Hindu rate of growth," India's economy grew at an average rate of around 3.5% per year, which was considered slow compared to other developing countries. This slow growth was due to a variety of factors, including a highly regulated economy, a focus on import substitution, and a lack of investment in infrastructure and technology.

However, in recent years, India's economy has undergone significant reforms and liberalization, resulting in much higher growth rates. Today, India is one of the fastest-growing major economies in the world, with an average growth rate of around 7% per year over the past decade.

Significance:

The term "Hindu rate of growth" is significant because it highlights the challenges that India faced in achieving economic growth in the decades following its independence from British rule in 1947.

The period of the "Hindu rate of growth" was marked by a highly regulated economy, a focus on import substitution, and a lack of investment in infrastructure and technology. These factors contributed to slow economic growth, high levels of poverty, and widespread inequality in the country.

The term "Hindu rate of growth" also sparked a debate about the role of government in economic development, with some economists arguing that excessive regulation and state intervention in the economy were holding back growth. This debate ultimately led to a wave of economic reforms and liberalization in the 1990s, which helped to open up the Indian economy and stimulate higher growth rates.

Today, India is one of the fastest-growing major economies in the world, with a rapidly expanding middle class and a growing role in the global economy. The term "Hindu rate of growth" serves as a reminder of the challenges that India has faced in achieving economic development, and the importance of continued efforts to promote growth and reduce poverty and inequality.

Recently the ex-Governor of RBI, Raghuram Rajan has stated that India is dangerously close to Hindu Rate of Growth which has sparked controversy among the politicians and economists alike.

Labels:

Comments

Post a Comment

Popular posts from this blog

The story behind origin of ISRO

  The story of the origin of the Indian Space Research Organisation (ISRO) is an inspiring tale of determination, vision, and perseverance. ISRO's journey began in the early 1960s when India was still a newly independent nation. In 1962, Dr. Vikram Sarabhai, a visionary scientist and industrialist, established the Indian National Committee for Space Research (INCOSPAR). Its primary objective was to develop space technology for national development and to harness the benefits of space science for the country. Initially, INCOSPAR worked under the Department of Atomic Energy (DAE) and focused on conducting scientific research in space. However, with the launch of the Soviet Union's Sputnik satellite in 1957 and the subsequent Space Age, the world began recognizing the significance of space exploration and satellite technology. In 1969, INCOSPAR was restructured and renamed the Indian Space Research Organisation (ISRO), under the leadership of Dr. Sarabhai. The newly formed ISRO be...
Post a Comment
Read more

Origin of Taiwan

  The origins of Taiwan can be traced back over 5,000 years ago when Austronesian peoples first settled on the island. These early inhabitants were believed to have originated in modern-day Southeast Asia and migrated to Taiwan by sea. The Austronesian peoples were skilled seafarers, and their arrival on the island marked the beginning of Taiwan's unique cultural history. Throughout history, Taiwan has been inhabited by various ethnic groups, including the Han Chinese, Dutch, Spanish, and Japanese. In the 16th century, Portuguese sailors were the first Europeans to make contact with Taiwan. However, it was the Dutch who established a presence on the island in the 17th century, which led to a period of colonization. Click here to watch the video The Dutch established the colony of Dutch Formosa in 1624, which lasted for over 38 years. During this period, the Dutch introduced new agricultural techniques, such as irrigation systems, which greatly improved the island's agricultur...
Post a Comment
Read more

Liberation of Bangladesh, 1971

  The Liberation War of Bangladesh, also known as the Bangladesh Liberation War, was a nine-month-long armed conflict that took place between the government of Pakistan and the Bengali nationalist forces in East Pakistan, which later became the independent nation of Bangladesh. The war resulted in the independence of Bangladesh on December 16, 1971, and is considered one of the most significant events in South Asian history. Background: The political history of East Pakistan had been fraught with tensions and struggles since the creation of Pakistan in 1947. The Bengali-speaking population of East Pakistan had long been marginalized by the Punjabi-speaking elites of West Pakistan, who held most of the political and economic power in the country. The East Pakistanis were also subjected to cultural and linguistic suppression, as the West Pakistani government sought to impose the Urdu language and Islamic identity on the country. The dissatisfaction of the East Pakistanis came t...
Post a Comment
Read more