VAE 311: Principles and Techniques of Veterinary and AH Extension (2+1)

ECONOMIC FACTOR

• The economic interpretation of social change is closely associated with Karl Marx. He envisages that finding a classless society has to emerge in which no one owns anything and everyone owns everything. In other words it is total abolition of the institution of poverty.
• For analytical purpose, we can distinguish five types of economy: 
  • Tribal economy: Over 20 million tribal people live in three broad regions of our country.
  • The peasant economy: Nearly 65 per cent of people live in villages. Agriculture is the main stay of the rural economy and so the entire economic and social structure revolves round it.
  • The pre-industrial urban economy
  • Industrial economy
  • Corporate economy
• Thus Indian economy should overcome poverty and have a balanced co-existence of all the types of economy, with increased production, which would increase employment particularly in the rural area.