Thiruvalluvar's economic ideas:
A large part of Valluvar's economic ideas are found in the second part of Thirukkural, the porutpal. It deals with wealth. Thiruvalluvar is a fundamental thinker. He believes that rains are the basic support of life. Since rain provides food, it forms the basis for stable economic life. Agriculture which is the most fundamental economic activity depends on rain,"It is rain that both ruins and aids the ruined to rise".
(a) Factors of Production:
Thiruvalluvar has made many passing references about the factors of production viz., Land, Labour, Capital, Organisation, Time, Technology etc. He says, "Unfailing harvest, competent body of men, group of men, whose wealth knows no diminution, are the components of an economy".(Kural 61)
(b) Agriculture:
According to Thiruvalluvar, agriculture is the most fundamental economic activity. They are the axle-pin of the world, for on their prosperity revolves prosperity of other sectors of the economy, "The ploughmen alone", he says "live as the freemen of the soil; the rest are mere slaves that follow on their toil"(Kural 1032). Valluvar believes that agriculture is superior to all other occupation.
(c) Public Finance:
Thiruvalluvar has elaborately explained Public Finance under the headings Public Revenue, Financial Administration and Public expenditure. He has stated these as
1) Creation of revenue,
2) Collection of revenue,
3) Management of revenue
4) Public expenditure
(d) Public Expenditure:
Valluvar has recommended a balanced budget. ."It is not a great misfortune for a state if its revenues are limited, provided the expenditure is kept within bounds." He has given certain guidelines for a budgetary policy. "Budget for a surplus, if possible, balances the budget at other times, but never budget for a deficit." Valluvar advocates the following main items of public expenditure:
1) Defence
2) Public Works and
3) Social Services.
(e) External Assistance
Valluvar was against seeking external assistance. According to Kural No. 739, countries taking external assistance are not to be considered as countries at all. In other words, he advocated a self-sufficient economy.
(f) Poverty and Begging:
Valluvar consideres freedom from hunger as one of the fundamental freedoms that should be enjoyed by every citizen. According to him 'poverty' is the root cause of all other evils which would lead to ever-lasting sufferings. It is to be noted that the number of people living below poverty line, begging, sleeping on the roadsides and rag picking in India has been increasing.
(g) Wealth:
Valluvar has regarded wealth as only a means and not an end. He said, "Acquire a great fortune by noble and honourable means." He condemned hoarding and described hoarded wealth as profitless richness. To him industry is real wealth and labour is the greatest resource.
(h) Welfare State:
Thiruvalluvar is for a welfare state. In a welfare state, there will be no poverty illiteracy, disease and industry. The important elements of a welfare state are
1) perfect health of the people without disease
2) abundant wealth,
3) good crop
4) prosperity and happiness and
5) full security for the people.

The economic ideas of Thiruvalluvar are found in his immortal work "Thirukkural", a book of ethics. He belongs to Sangam Age in Tamil Nadu third century A.D. Thiruvalluvar's work is marked by pragmatic idealism. 
A large part of Valluvar's economic ideas are found in the second part of Thirukkural, the Portugal. It deals with wealth.
i) Factors of production:
Land, Labour, Capital organization, Time, Technology, etc. He says, "unfailing hervest competent body of men, group of men whose wealth knows no diminution are the whose wealth knows no diminution are the components of an economy".(kural 61)
ii) Agriculture:
Agriculture is the most fundamental activity. The ploughman alone: he says "live as the freemen of the soil, the rest are mere slaves that follow on their toil". (Kural 1032)' 
iii) Public finance:
He has stated these as (1) creation of revenue (2) collection of revenue (3) management of revenue (4) public expenditure.
iv) Public expenditure: 
Valluvar has recommended balanced budget. He has given certain guidelines for a budgetary pouch, Valluvar advocates the following main items of public expenditure (1) Defence (2) Public works (3) Social services.
v) External assistance:
According to Kural No.739, countries taking external assistance are not to be considered as countries at all. In other words he advocated self-sufficient economy.
vi) Poverty and begging:
According to him "poverty" is the root cause of all other evils which would lead to ever lasting sufferings. It is to be noted that the number of people living below poverty line, begging, sleeping on the road sides and rag picking in India has been increasing.
vii) Wealth:
He said, "Acquire a great fortune by noble and honorable means". He condemned hoarding and described hoarded wealth as profit less richness.
viii) Welfare state:
The important elements of a welfare state are (1) perfect health of the people without disease (2)abundant wealth (3) good crop (4)  prosperity and happiness and (5) full security of the people. Thiruvalluvar is for a welfare state.

Weakness of Indian Economy:
i) Large Population:
India stands second interms of size of population next to China and our country is likely to overtake China in near feature. The population growth rate in India is as high as 1.7 per 1000. The annual addition of population equals the total population of Australia.
ii) Inequality and Poverty:
There exists a huge economic disparity in the Indian economy. This has led to an increase in the poverty level in the society and still a higher percentage of individuals are living below poverty line (BPL). As a result of unequal distribution of the rich becomes richer and poor becomes poorer.
iii) Increasing prices of essential goods:
Even though there has been a constant growth in the GDP and growth opportunities in the Indian economy, there have been steady increase in the prices of essential goods. The continuous rise in prices erodes the purchasing power and adversely affects the poor people whose income is not protected,
iv) Weak infrastructure:
Even though the improvement of infrastructural development in the past few decades, there is still a scarcity of the basic infrastructure like power, transport, storage, etc.
v) Inadequate employment generation:
With growing youth population, there is a huge need of the employment opportunities. The growth in production is not accompanied by creation of job. The Indian economy is characterized by "jobless growth".
vi) Outdated technology: 
The level of technology in agriculture and small scale industries is still outdated and obsolete.

(i) Electrical energy is one of the necessary components of our life.
(ii) Now-a-days, without electricity, we cannot survive in this world of technology.
Classifications of energy:
The energy sources are classified under two heads. They are,
(a) Non-renewable energy sources
(b) Renewable energy sources
(a) Non-renewable energy Sources:
(i) The sources of energy which cannot be renewed (or) re-used are called non-renewable energy sources.
(ii) This energy sources which will get exhausted over a period of time.
(iii) For example: coal, oil, gas etc.
(b) Renewable energy Sources:
(i) The sources energy which can be renewed or re-used again and again are called renewable energy sources.
(ii) These kinds of materials do not exhaust (or) these are available in abundant (or) infinite quantity.
(iii) For example: Solar energy, Wind energy, Tidal energy, Geothermal energy and Biomass energy.
(iv) Sometimes renewable sources are also called non-conventional sources of energy.

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.