Excess
demand is basically a situation which arises when the aggregate demand is more
than the aggregate supply that too when the economy is at full employment
level. This means that the population is demanding more that the country can
produce with all the resources available. This could happen due to many reasons
like reduction in taxes, decrease in the imports, increase in the exports,
increase in government expenditure and many more. Due to these reasons, the
population holds more money power and therefore, demand more to raise their
standard of living. During these times, the aim is to extract as much money
from the population as possible so that their demanding power would decrease. So,
how does the government control such a consequential matter. Here are the
measures taken by the government.

FISCAL
POLICY

1.DECREASE
IN GOVERNEMNT SPENDINGS

Generally,
the government spends a huge amount on the infrastructure and administrative
activities. Although, during such a situation, they decrease these spendings so
that they will have to pay less to the workers who are a part of the population
and eventually it will lessen their money power. The government should usually
reduce the expenditure on defence as they rarely contribute towards the growth
of the economy.

2.INCREASE
IN TAXES

Here, the
government increases the rate of taxes and also tries to impose some new taxes.
This is because they want to take away the extra money circulating in the
economy so that their credit availability would be lowered, and they won’t be
able to demand more than their need.

MONETARY
POLICY

1.INCREASE
IN BANK RATE

Bank rate is
basically the rate at which the central bank lends money to the commercial bank
to meet their long-term needs.  During
this time, the central bank increases these rate so that the commercial banks
wont have enough funds available with them to lend to the public and
eventually, less money would be circulated in the economy.

2.INCREASE
IN REPO RATE

Repo rate is
the rate at which the central bank lends money to the commercial bank to meet
their short-term needs. This also works as the same way, the banks won’t have
enough funds to circulate to the public and the demand would decrease.

3.SALE OF
SECURITIES

In the time
of excess demand, the central bank offers securities to the commercial bank. In
order to purchase these securities, the commercial banks will have to use their
own money from their reserves which again will reduce their lending power and
the public won’t be able to borrow much.

4.INCREASE
IN LEGAL RESERVE RATIO (LRR)

The
commercial banks are supposed to be maintaining a legal reserve. There are two
types of these reserves, Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio
(SRR). If these reserves would be increased then eventually the banks will have
less money to lend forward to the people and hence, less money circulation in
the economy.

5.INCREASE
IN MARGIN REQUIREMENT

Margin
requirement is the difference between the market value of the security offered
and the value lent to them. During excess demand, the RBI increases this margin
which does not allow the banks to lend extra to the public. Also, after an
increase in this margin, the public is less interested in borrowing money.

6.ADVISE TO
DISCOURAGE LENDING

During the
excess demand, the central bank advises, requests or persuades the commercial
banks not to lend money ahead for a speculative or any non-essential activity.
This helps to reduce the money power among the population and eventually decrease
the aggregate demand.

 In July
1999, the government of India introduced a new industrial policy,
Liberalization Privatization and Globalization (LPG) as a pert of the economic
reform. It focused on liberating the industry from the licensing system(liberalization),
reducing the role of public sector in the economy and introducing private
sector(privatization) and encouraging the foreign-private participation in the
country for the growth of the economy(globalization).

The main
objective of this policy was to increase the standard of living in the nation
and growth of the economy. Also, the nation needed to be strongly independent
and not making money from other countries. Therefore, the focus was to set-up
strong industrial bases which had heavy industries.

Since,
poverty, unemployment and inequalities in income and wealth was and still is a
major problem in the nation, another goal was to reduce them by giving
employment opportunities to as much of the population as possible so that their
living standard could be raised.

Under this
policy, many industries which were reserved under the public sector was
de-reserved by the government since the focus was supposed to be on the private
sector. In many cases, disinvestment was also taking place.

The policy
opened up the opportunities for foreign capital investment. This increased the
foreign participation percentage in the country and in a lot of cases, a 100%
Foreign Direct Investment (FDI) was also permitted.

This
automatically granted the permission by the government required for technology
agreements with the foreign companies investing in our nation. A board namely
Foreign Investment Promotion Board (FIPB) was set-up for the promotion as well
channelization of foreign investment.

Economic
policies by the government like fiscal and monetary policies, infrastructural
factors, economic growth of the country, the mixed economy of the nation that
allows to recognize both public and private sectors are some of the factors
responsible for the new policy LPG.

LIBERALIZATION

It means
freeing the businesses and industries in the nation from unnecessary controls
and regulations. This was done through the following processes –

·       Abolishing the requirement of license
in majority of the industries

·       Removing the restrictions on the
movement of goods

·       Reducing the tax rates

·       Lifting up of unnecessary control
over the economy

·       Simplifying the procedure of
international trade

·       Making the foreign companies invest
in our country

PRIVATIZATION

It basically
means reducing the role f public sector in the economy and giving that power to
the private sector instead. In order to execute, a lot of public sector
enterprises were transferred to the private sector. This is called
disinvestment. As a result, the government held less power and control over the
public enterprises. If the government will not have more than 51% ownership of
the public enterprises, then its rights an ownership will automatically be
given to the private sector.

GLOBALIZATION

This means
the adaptation of various successful policies around the world and integrating
them towards the emergence of a global economy. Till 1999, the government
followed the old policy of strict and attentive international trade due to the
fear being captured again. This policy was to be changed. This was necessary so
that the country won’t be secluded. It needed a great level of international
socialization and interaction. A global economy will be boundary less with the
following characteristics  –

·       Free flow of imports and exports

·       Free flow of capital

·       Free flow of information and
technology

·       Free movement of citizens across
borders

 There are
two aspects on which the whole market functions – demand and supply. These are
inter-dependent and without the existence of even one of these, the market
would collapse. So, what is market? Market is basically a region or area where
the byers and sellers come in contact which each other in an effort to make a
sale or a purchase. But there isn’t only one form market where this process
takes place. A market has various forms with a variety of different functions.
Different commodities are served under different types of market. Let’s have a
look at few of them.

PERFECT
MARKET

This is the
type of market that doesn’t really exist in reality. A situation where there is
a very large number of buyers and sellers dealing in homogenous products whose
prices are fixed by the market. Because it is quite difficult to sell a product
at a fixed rate throughout its sales because of numerous sellers available,
this market is very rare, but the closest example could be the agricultural
grains offered in the market like wheat and rice.

One
important fact is that only homogenous product exists in this market. This
means that only those products that are similar in nature will be available
here so that the demand and supply fluctuates leading to a constant change in prices.

IMPERFECT
MARKET

MONOPOLY

This is a
market where only a single seller exists and there is no other competition
because his product doesn’t have any other substitutes. The word ‘monopoly’ is
derived from the Greek word ‘monos’ meaning single and ‘polus’ meaning seller.
A perfect example for this would be the railways in India. There is only
one platform in India that sells tickets for train travels and that is the
IRCTC. It doesn’t have any other competition because there is no other
substitute available for this.

Also, there
are some strong barriers that are made up in this market for a new firm to
enter. This gives the existing firm even more power and therefore, they are the
only ones who get to decide the prices of the commodities. Now because there is
no other substitute, the consumer will have to purchase the commodity at
whatever price it is available.

MONOPOLISTIC

This one is
kind of a mixture of both the above markets. This is a market where there are
large number of firms available who sell products that are closely related but
not exactly the same. Basically, it is the type of market we witness every day.

For example,
soap, toothpaste, shampoo and more. These are the type of products that do have
substitutes, but they are not the same due to the brand.

So, this
market is both perfect market and monopoly market. Here is how. Let’s talk
about toothpaste. There are loads of brands available in the market for this
like Pepsodent, Colgate, Sensodyne etc.. this shows that this market has the
freedom of entry and is full of competition. On the other hand, each product is
different. Even though they are all toothpastes, they are differentiated on the
basis of their brands and their functions.

OLIGOPOLY

Now this is
a market that has a few big sellers who sell homogenous as well as
differentiated products. This market is a mix of monopolistic and monopoly. The
word ‘oligopoly’ was derived from the Greek words ‘oligi’ meaning few and
‘polein’ meaning sell. In India, one of the biggest examples of such market
is automobiles industry. There are various big brands available in the market
who are all selling cars but with different features. Also, these brands are
inter-dependent which means that a change in the price of one firm will lead to
a change in the price of another.

For
instance, if Honda reduces its price by 2% then Maruti will have to reduce its
prices as well since the consumers will be more inclined towards Honda if they
don’t.

Also, since
it is a market of big sellers, there barriers over here as well for a new firm
to enter. The competition would be extremely high.

 What is one
of the most important factors that needs to be done correctly for an
organization to grow when their product is of good quality and have an
affordable price? It’s promotion. The organization needs to ensure that they
are promoting themselves properly to wide range of the population so that more
people can know about them and their business can grow.

Promotion is
basically communicating with your customers or prospective customers with aim
of informing them about your product and persuading them to make an immediate
purchase. In this, you will have to describe your product’s features,
availability, use and more important things that will earn you brownie points
and make the customer buy it.

There are
different ways of promoting yourself and one can use a combination of such ways
to grow their business. Let’s have a look at these tools.

1.ADVERTISING

It is the
most commonly used tools of promotion. Does not need any explanation as we come
across a hundred of ads every day.

In a formal
language, advertising is any paid form of presentation or promotion of the
product by the marketer. It includes the provision of the information about the
product in detail so that the buyer would take an action in favor of the
marketer.

The most
commonly used modes by the companies to advertise themselves have been
televisions, newspapers, magazines and radios. Although, since the past few
years, digital marketing has also been gaining attention impressively. More and
more people are opting for this method as it is easier and more affordable to
use. Plus, it reaches out to more masses considering the whole world is
connected online now due to the pandemic.

It can be
very surely said that advertisement plays a major role in the success of a
business.

2.PERSONAL
SELLING

It is
usually the oral presentation of the product to one or more consumers with the
aim of making them buy it. For this method, a salesperson is appointed by the
company who goes from door to door of the customers to explain them about the product
make a sale. It is generally more time taking and costlier than advertising.
Also, it is not possible for a human to go around in every corner of the nation
to promote the product therefore, the mass reach is very low here. One plus
point though, in personal selling, the seller gets an immediate and clear
feedback from the customer which may not be possible in the case of advertisement.

3.SALES
PROMOTION

These are
basically the short-term schemes initiated by the company to attract more
customers and make them buy the product. All promotional efforts other than
advertising and personal selling comes under this. Some of these techniques may
include free shipping or free return of the product, any giveaways,
competitions with rewards, flash sale of 60-80% off and lot more. These type
incentives attract a large number of people which increases the customer base.

4.PUBLIC
RELATIONS

These mean
the programs organized by a company to protect the image of their product or
themselves, for that matter, in the eye of the public. The business needs to
communicate with its buyers, investors and suppliers since they play a major
role in increasing the sales and profit of the company. Therefore, they need to
have a good public image constantly so that these people would be loyal to
them. A bad image may harm the reputation of the company and eventually people
would start to back-off from them since they do not want to be in touch with a
unsavoury reputed company.

 The problem
of unemployment is a serious problem which if not cured, leads to poverty. In
India, this problem is a quite major one. Currently, a whole of 13.3% of the
Indian population is unemployed. Basically, it is a situation where people are
willing and able to work but are not getting any jobs due to many reasons.
These people include only those who are above the age of 18 years because of
the child labor law in India. There are various reasons for this situation to
arise. Let’s discuss them.

1.SLOW
ECONOMIC GROWTH

The actual
rate of growth of the Indian economy is always far behind the rate that has
been planned in the five-year plans. This has been observed since the past five
decades. Due to this, there are low employment opportunities available and
hence, a majority of people are left unemployed. The generation of these
opportunities could not keep up with the increasing labor force.

2.POPULATION
EXPLOSION

The rapid
growth of the population is another prime reason why unemployment is growing.
The human capital in the country is increasing rapidly but the employment
opportunities is not growing enough. This leads to a lot of people being
jobless.

3.UNDERDEVELOPED
AGRICULTURE

The antique
methods of technology used for agriculture is also responsible for unemployment
or underemployment because the population is growing more than the
opportunities available.

4.FAULTY
EDUCATIONAL SYSTEM

The
education system in India right now is still full of defects as it does not
provide the students with any transformational technical and vocational
education. As a result, most of the students are not qualified enough or does
not possess the required education skills for many jobs. This again leaves a
lot of them unemployed.

5.SLOW
GROWTH OF INDUSTRY

There is a
massive shortage of capital and technology that restricts the industries from
growing and developing. This is why they are not able to create more employment
opportunities in the country. It is only possible for them to increase this
opportunity percentage if their own industry will shine bright since they
require more employees. For this, advanced technology is required which is
unavailable.

6.REDUCTION
OF SMALL-SCALE INDUSTRIES

Over the
past few years, a large number of small-scale industries in the villages have
declined. This is due to the change in taste of the consumers. With the
availability of new technology, people have started shifting their choices from
traditional products to modern products. This led to the shutting of these
small-scale industries due to the lack of demand. As a result, not only people
have less employment opportunities but those who did have a job also lost it
and became unemployed.

7.DEFECTIVE
PLANNING

The plans
formed by the government did not stop the migration of rural population to the
urban population and have also failed to encourage labor intensive technology
in the agriculture and industrial sector and as a result, in the rural areas
there is less employment opportunities considering everyone tends to move to
the urban areas.

8.LOW
CAPITAL

There is a
considerably low growth rate of capital in the country in both the agricultural
and the industrial sector and therefore, the employment opportunities is less
since these sectors are not able to grow as much as they should.

The problem
of unemployment is a serious problem which if not cured duly, leads to poverty.
In India, this problem is a quite major one. Currently, a whole of 13.3% of the
Indian population is unemployed. Basically, it is a situation where people are
willing and able to work but are not getting any jobs due to many reasons.
These people include only those who are above the age of 18 years because of
the child labor law in India. There are various measures to cure this type of
situation. Let’s discuss them.

1.INCREASING
THE GROWTH RATE OF GDP

One way to
solve this problem could be the aggregate growth of the GDP. In the next 10
years, this growth rate must be 8%-9% so that the economy will grow and
eventually the employment opportunities will increase.

2.POPULATION
CONTROL

The rapid
growth of population needs to be reduced because the employment opportunities
available or being created are not enough to absorb the increasing labor force
in the country. If the opportunities are less and are not being able to
increase then eventually, the population will have to be reduced.

3.AGRICULTURAL
SECTOR DEVELOPMENT

If only the
agricultural sector will grow, then it is possible to create more employment
opportunities for the existing labor force. This growth is possible with the
help of modern and advanced technology, better irrigation facilities, reform of
land laws and the increase in public investment.

4.ENGOURAGE
THE SMALL-SCALE INDUSTRY

The
small-scale enterprises needs to be encouraged and supported more because these
industries will help create more of such employment opportunities for the
people residing in the villages. Also, such industries would help in the
development of the rural areas and contribute towards the economic growth.

5.IMPROVED
INFRASTRUCTURE

The
infrastructure is a crucial part of the economy. The better the infrastructure,
the more will be the economic growth. These infrastructures boost the growth of
industrial and agricultural sector and hence, more opportunities would be
created.

6.EMPLOYMENT
PROGRAMS

The
government needs to plan special employment programs with the only aim of increasing
employment in the nation. These plans must be given attention precisely and not
only this, but the government should also make sure that the implementation is
strict. A lot of times, programs or incentives are introduced for the help of
the less privileged section of the society but still it does not provide with
expected results due to the inefficiency in the execution. The people who are
targeted for such programs are completely clueless about them and hence, no one
benefits from this.

7.CREATION
OF SELF-EMPLOYMENT OPPORTUNITIES

The government
must also provide with various facilities like financial assistance, training
of skills, availability of inputs and marketing of products so that more
self-employment opportunities would be created. These types of opportunities
are basically those which does not need a superior to hire people. Here, people
start their own business or a start-up and employ themselves.

8.IMPROVEMENT
IN EDUCATION SYSTEM

The
education system in a lot of regions in the nation is still backward and not up
to the development we have made. Therefore, people still don’t have the apt
knowledge and qualification required for most of the jobs. This system needs to
be upgraded so that every student has the same opportunities in the future.

 A major
problem in the whole world right now is the excessive use of available
resources. We are continuously using the natural irreversible resources up to
the level of our own satisfaction without planning for the future. What we need
to understand is that we are not using what our ancestors left for us rather,
we are taking away what belongs to our future selves. We have to keep in mind
the consequences of our actions on the future generation and therefore, choose
a path that is sustainable enough.

Sustainable
development is a method for such a careful and planned development. It means
that availability of resources for the future generation which will allow them
to have a average quality life, at least as good as what the current generation
is enjoying.

The basic
aim of this development is to make sure that the future generation does not
suffer for the actions taken by us today. They get to live a life as
comfortable as us.

At the same
time, we should also focus on the economic growth. This is why the term
‘sustainable’ is used. The preservation of the world should be our prime focus
along with rapid growth of our economy. A path is only sustainable if the stock
of the capital assets is constant or rises with time.

The term
‘sustainable development’ was introduced by the International Union for the
Conservation of Natural Resources (IUNC) 1980 in their World Commission
Strategy report. According to them, sustainable development refers to the
development that meets our own needs without compromising with the needs of the
future generation.

AIMS

·       Sustainable use of resources without
the taking anything away from the future generation

·       Prevent further damage to our support
system – environment

·       To conserve the biodiversity and
other resources for long-term needs

WAYS TO
ACHIEVE SUSTAINABLE DEVELOPMENT

1.RESTRICT
THE USE OF RENEWABLE REOURCES

Renewable
resources should be extracted on a long-lasting and appropriate basis. What we
have started to do is extract them as much as we can with the hopes of making
profits without calculating if it is even needed or not.

2.SUBSTITUTE
NON-RENEWABLE WITH RENEWABLE RESOURCES

Non-renewable
resources like natural gas, oil, coal must be substituted with the renewable
ones. Non-renewable resources are something that cannot be made by the man. At
the rate that we are using these, it is definite that one day they will be
extinct, and nothing will be left for the future. Therefore, we need to
understand that only a certain amount of these resources must be used, and
majorly renewable resources should be used.

3.BECOME
INPUT EFFICIENT

The
technology that we are using right now must be used in a way that it produces
more of the input for renewable resources and not just consume them. It will
help to increase the production of renewable resources and eventually
non-renewable ones will be preserved.

4.POLLUTION
AND POPULATION CONTROL

The
extremely increasing pollution has already done enough damage to the ozone
layer as we all know. A very important part of the environment has already
started degrading because of our actions. This must be taken as a lesson by us
and we should keep a heed on our activities. Also, the increasing percentage of
human population is leading to an excessive use of resources and this needs to
be controlled.

 A major part
to start a business or to run a business successfully is finance. The company
must ensure all the time they are in good financial position and can face any
unexpected risks. No doubt there are quite a few finance options available out
there. One needs to choose wisely and calculatedly from among these options
that which one would be better for their organization. Not all of these options
will necessarily be apt for the nature of your business. Let us talk about two
of such finance options. One being ‘shares’ and the other ‘debentures’. What
exactly are these and which one would be more beneficial for you.

SHARES

Basically,
these are a part of the company that can be sold or bought indicating that the
shareholder is the owner of the company up to the amount of his shares. These
are known as the owner’s fund. Often, if the company is in the need of funds
then they tend to sell some of their shares to the prospective buyers.

There are
two types of these shares – ‘equity shares’ and ‘preference shares’. Equity
shares are the shares that do not benefit the owner with any kind of
preferential rights or authorities whereas, preference shares come with its own
benefits.

Some of
these benefits are that preference shareholders have a right to receive a fixed
rate of dividend from the profit before any of the equity shareholders are
declared their dividend. If in case, the profits are not enough to be divided
between both the holders then the equity shareholder will be left with no
dividend. Also, if the company is winding up, preference shareholder’s capital
is returned before the equity shareholders.

One downside
is that preference shareholders do get any say in the management or do not have
any voting rights in the company. This privilege is only provided to the equity
stakeholders.

DEBENTURES

These are
the borrowed funds that are used to raise long-term capital from a source
outside of the company like corporations and governments. Although, there is a
fixed rate of interest that needs to be paid here. The debenture issued is a cognizance
that the company has borrowed funds from the source which it guarantees to
return on a certain date in the future. Therefore, the debenture holders are
known as ‘creditors of the company’.

For the
public issue of debentures, it is mandatory that it has been rated by a credit
rating agency like ‘Credit Rating and Information Services of India Ltd.’
(CRISIL).

SHARES
VS. DEBENTURES

While the
shares are considered to be owner’s funds, the debentures are categorized under
the borrowed funds which means that there is a fixed rate of interest that must
be paid from time to time. Also, if debentures are issued, you don’t get any
rights or benefits from the company whereas, in case of shares, you have a
voting right or you receive a fixed dividend.

The shares
are issued exactly at their face value which means that there won’t be any
discount on the issue which is possible in the case of debentures. Although in
debentures, the company’s assets are to be kept with the source as mortgage
which is not the case in shares.

From a
company’s perspective, if equity shares are issued then it will increase the borrowing
capacity of the company. On the other hand, if debentures are issued, it will
decrease its borrowing capacity.

There isn’t
a right or wrong source of fund out there. It lies in your hands which source
you choose. However, it is a very crucial decision which should be made after
doing the complete research and going through the pros and cons of each one of
them. The decision should be wise and favorable for your company.

 Planning is
a major part of the business. In fact, it is the first and foremost step by the
organization towards the achievement of their goal. In terms of business, it
basically refers to the process of setting up of objectives in a given time period
and analyzing all of the alternatives possible to achieve those objectives and
then finally, choosing the correct method to do so.

We can tell
by its definition itself that it is a crucial part of the business that cannot
be ignored. Let’s understand in detail exactly how important planning actually
is from a business’ perspective.

1.PROVIDES
DIRECTION

If we have
already stated in advance that what our objectives are and how the work is
supposed to be done, then it will provide a direction to us. Planning makes
sure that all the objectives are clear so that everybody knows what action is
to be taken and in which direction. All the employees are aware what the
organization has to achieve and what they must do in order to complete those
achievements. If there won’t be any planning done beforehand, the employs would
be confused and will work in different directions which would lead to nothing
but chaos.

2.REDUCES
UNCERTAINITY

Planning is
an activity that allows the organization to look ahead and anticipate the
uncertain events and risks that may take place. If we have a plan in advance,
there are less chances of the organization facing a loss in an uncertain event.
Therefore, planning anticipates the future risks and develops possible
solutions for it beforehand. Although it must be noted that planning only
anticipates the upcoming risks and does not eliminate them. So, it won’t help
you to avoid those problems but will provide a way to make sure you are
affected the least.

3.REDUCES
USELESS ACTIVITIES

Planning
makes sure that each and every department in the organization knows their goal
and the employs know what they are doing. There is a clarity in thoughts and
actions of everyone which helps to carry out the operations smoothly without
any confusion. Due to this, there is very low chances of redundant activities
taking place and wasting the time and resources. It becomes easier to detect
the inefficient work and eliminate them.

4.PROMOTES
CREATIVE IDEAS

Planning is
all about thinking in advance about what to do and how to do it and therefore,
new innovative and creative ideas can take place and provide everyone with a
solid plan. It is closely linked to creativity.

5.HELPS IN
DECSIONS

It helps the
organization to look ahead and gives them a chance to protect themselves
against the uncertain events and prepare with an action plan for it. For this,
one must choose the correct plan from among the various possible alternatives
available. Here, they must look and evaluate both, the positive as well as the negative
aspects of all the alternative choices because they need to select the one
which is the most feasible and profitable. Therefore, planning helps in making
efficient and fully developed decisions.

 There is no
denying that poverty is one of the major problems in the country. Almost 68.8%
of the population lives below the poverty line and are not able to fulfill their
basic necessities of life. The question is, what is the government’s take on this?
What are their initiatives to cure this problem?

The
government has always given a major heed to the poverty alleviation programs
initiated by them. They started these programs with an aim to create more and
more self-employment and wage-employment in the country so the there is a clear
reduction in the poverty percentage. Therefore, these types of programs were
categorized into two different types.

SELF-EMPLOYMENT
PROGRAMS

1.RURAL
EMPLOYEMENT GENERATION PROGRAM

Initiated –
1993

Objective –
to create more self-employment opportunities in the rural sectors. It was
implemented by the khadi and the village committee.

2.PRIME
MINISTER ROZGAR YOJNA

Initiated –
October 1993

Objective –
to create more self-employment as well as wage-employment opportunities for the
educated unemployed from the local families.

3.PRIME
MINISTER EMPLOYMENT GENERATION PROGRAM

Initiated –
14 August 2008

Objective –
to create more self-employment opportunities

4.SWARNAJAYANTI
SHAHRI ROZGAR YOJNA

Initiated –
1 December 1997

Objective –
it was a centrally sponsored scheme in the ratio of 75:25 between the state and
the central government with an aim to create more self and wage employment
opportunities.

5.SWARNAJAYANTI
GRAM SWAROZGAR YOJNA

Initiated –
1 April 1999

Objective – to
create the availability of subsidies and micro-enterprises in the rural area
that will increase the self-employment opportunities.

Programs
merged under this – Integrated Rural Development Program (IRDP), Training of
Rural Youth for Self Employment (TRYSEM), Development of Women and Children in
Rural Areas (DWCA), Ganga Kalyan Yojna (GKY) and Million Wells Scheme (MWS).

WAGE
EMPLOYEMENT PROGRAMS

1.SAMPURNA
GRAMEEN ROZGAR YOJNA

Initiated –
25 September 2001

Objective –
to use more of labor-intensive technology where the mode of payment was either
cash or food grains.

2.NATIONAL
FOOD FOR WORK PROGRAM

Initiated –
14 November 2004

Objective –
to create supplementary wage-employment opportunities which was implemented in
150 backward districts for people living below the poverty line.

3.MAHATMA
GANDHI NATIONAL RURAL EMPLOYMENT GENERATION ACT (MNREGA)

Initiated –
2005

Objective –
to create more wage employment in the country by providing guaranteed 100 days
of wage employment.

OTHER
PROGRAMS

1.NATIONAL
SOCIAL ASSISTANCE PROGRAM

Initiated –
15 August 1995

Objective –
to support the widowed, aged and disabled people who do not have any source of
income with them.

2.PRADHAN
MANTRI JANDHAN YOJNA

Initiated –
2014

Objective –
it opened a bank account for all the households and offered various banking
services with an aim to promote the habit of savings in them.