(i) High national income
(ii) High per capita income
(iii) High standard of living.
(iv) Full employment of resources
(v) High level of technology.

This means that India is a pride owner of the maximum percentage of youth which is also an indicator of the growth.

(i) Uneconomic holdings with subdivisions and fragmentation.
(ii) Low levels of water availability for crops.
(iii) Excess population pressure on agriculture due to fewer industries.
(iv) Absence of capital and autonomy in currency policy.

Sen's 'Choice of Technique' was a research work where he argued that in a labour surplus economy, generation of employment cannot be increased at the initial stage by the adoption of capital-intensive technique.

Resources that are exhaustive and cannot be regenerated is called non-renewable energy.
Eg: fossil fuels - Coal, Petroleum, minerals.

Size of Population:
Table: Population Growth

(i) Over a period of 100 years, India has quadrupled its population size. In terms of, size of population, India ranks 2nd in the world after China.
(ii) India has only about 2.4% of the world's geographical area and contributes less than 1.2% of the world's income, but accommodates about 17.5% of the world's population.
(iii) In other words; every 6th person in the world is an Indian.
(iv) In fact, the combined population of just two states namely, Uttar Pradesh and Maharashtra is more than the population of United States of America, the third most populous country of the world. Some of the states in India have larger population than many countries in the world.
(v) The negative growth during 1911-2.1 was due to rapid and frequent occurrence of epidemics like cholera, plague and influenza and also famines. The year 1921 is known as the 'Year of Great Divide' for India's population as population starts increasing.
(vi) During 1951, population growth rate has come down from 1.33% to 1.25%. Hence it is known as 'Year of Small divide'.
(vii) In 1961, population of India started increasing at the rate of 1.96% i.e, 2%. Hence 1961 is known as 'Year of Population Explosion'. In the year 2001, the Population of India crossed one billion (100 crore) mark.
(viii) The 2011 census reveals growth of youth population which is described as 'demographic transition'.

(i) A large part of Valluvar's economic ideas are found in the second part of thirukkural, the porutpal.
(ii) It deals with wealth.
(iii) Thiruvalluvar is a fundamental thinker.
(iv) He believes that rains are the basic support of life.
(v) Since rain furnished food, it forms the basis for stable economic life.
(vi) Agriculture is the most fundamental economic activity depends on rain.

(i) The health care services in India are mainly the responsibility of the ministry of health.
(ii) Health status is better in Kerala as compared to other states.
(iii) India's health status is worse than other developed countries.

Social infrastructure refers to those structures which improve the quality of manpower and contribute indirectly towards the growth of an economy.
Education:
(i) Education is in Concurrent List.
(ii) The Ministry of Human Resource Development decides the education budget and education policy.
(iii) India follows a six-level system - nursery, primary, secondary, higher secondary, graduation and post-graduation.
(iv) We have the 10 +2 pattern.
(v) The education department consists of schools, colleges and universities imparting education to all.
(vi) Though the budget share of education is 3% of GDP yet the per pupil expenditure for school students is the lowest.
Health:
(i) Health is a state-government responsibility.
(ii) The Central Council of Health and Welfare formulates various health care projects.
(iii) India has the ayurvedic medicine, unani, homeopathy, allopathy and yoga.
(iv) Medical practicing needs a licensing from the Ministry of Health. All medical systems now are under one ministry viz AYUSH.
(v) Health status is better in Kerala but generally India's health status is not satisfactory

Poverty and inequality:
Amartya Sen studied about poverty and inequality, distribution of income among the people below the poverty line.
The concept of capability:
(i) Capability is the ability to transform Rawlsian primary goods to the achievement of well-being
(ii) This was a better index of well-being then commodities.
Entitlement:
(i) Sen included the concept of entitlement items like nutrition, food, medical and health care, employment, scarcity of food supply in times of famine.
(ii) All this is included in Amartya Sen's Welfare Economics.

Rao's examination of the "interrelation between investment, income and multiplier in an under developed economy" (1952) was his major contribution to macroeconomic theory.

The main economic ideas of B.R. Ambedkar (1891-1956) may be studied under four broad headings. They are.
(A) Financial Economics:
(i) Much of the work done by B.R. Ambedkar during the period (1913-1923) was in the field of finance Economics.
(ii) He divided the evolution of provisional Finance into three stages such as
(i) Budget by Assignment
(ii) Budget by Assigned Revenue
(iii) Budget by Shared Revenue
(B) Agricultural Economics:
In 1918, Ambedkar published a paper "Small holdings in India and their Remedies".
(C) Economics of Caste:
(i) Ambedkar believed that caste was an obstacle to social mobility.
(ii) The caste system has resulted in the absence of social democracy in India as distinct from political democracy.
(D) Economics of socialism:
(i) Ambedkar was a socialist. He was a champion of state socialism.
(ii) He advocated the nationalization of all key industries and suggested state ownership of land and collective farming.

(i) Goods and services provided by the nature are called as natural resources.
(ii) In other words, any stock or reserve that can be drawn from nature is a natural resources.
Land resources:
The area operated by large holdings (above 10 hectares) and the area operated under marginal holding (less than one hectare) has increased. This indicates is being fragmented.
Forest Resources:
India's forest cover in 2001 is 69.09 million hectare which 21.02 percent of the geographical area, of this 8.35 million hectare is very dense forest, 31.90 million moderately dense rest of the 28.84 million hectare is open forest.
Important Mineral:
"India possesses high quality iron - ore in abundance. The total reserves of iron - ore in the country are about 14.630 million tonnes of haematite and 10,619 million tonnes of magnetite
Coal and lignite:
Coal is the largest available mineral resources, India ranks third in the world after China and USA in the real of coal production.
Bauxite:
Bauxite is a main source of metal like aluminium.
Mica:
India stands first in sheet mica production and contributes 60% of mica trade in the world.
Crude Oil:
Oil is being explored in India at many places.
Gold:
India possesses only a limited gold reserve. There are only 3 main gold mine regions in our country.
Diamond:
As per UNECE the total reserves of diamond is estimated at around 4582, thousand carats which are mostly available in panna, Madhya Pradesh, Rammallakota of kunnur district of Andhra Pradesh and also in the Basin of Krishna River.

Introduction:
(i) Gandhian economics is based on ethical foundations.
(ii) He wrote, "Economics that hurts the moral well-being of an individual or a nation is immoral and so sinful".
Village republics:
(i) To Gandhi, India lives in villages.
(ii) He was interested in developing the villages as self-sufficient units.
(iii) He opposed extensive use of machinery, urbanization and industrialization.
On machinery:
(i) Gandhi described machinery as 'Great sin'.
(ii) It is an evil and would finally end.
Industrialism:
(i) Gandhi considered industrialism as a curse on mankind and would exploit the nation.
Decentralization:
(i) He favoured production in the people's homes at a large number of places on a small scale.
Village Sarvodaya:
(i) He suggested the development of self-sufficient, self-dependent villages.
Bread labour:
(i) Gandhi realised the dignity of human labour. He believed that man should eat his bread by the sweat of his brow. Bread labour or body labour meant manual labour.
Doctrine of trusteeship:
(i) Trusteeship provides a means of transforming the present capitalist order of society into an egalitarian one.
(ii) But India today has casino and crony capitalism.
On the food problem:
(i) Gandhi was against food controls.
(ii) Such controls created artificial scarcity. Today, India tops in the world with large production of fruits, vegetables, milk, egg, meat etc.
On Population:
(i) Gandhi opposed population control through contraceptives.
(ii) He favoured birth control through Brahmacharya or self-control.
(iii) This is the remedy to over population.
On prohibition:
(i) Gandhi advocated total prohibition, regarded use of liquor as a disease.
(ii) But today many states depend on revenue from liquor sales.
Conclusion: If Gandhi's ideas are followed, India will soon become a developed nation.