Cement shop owner: Falls under self-employed as the individual owns and manages the business independently.
Construction worker: Classified as a casual wage worker as they work temporarily for wages on various projects.
Civil engineer: Regular salaried professional employed in companies or institutions.
Read the following text carefully from ‘The Economic Times’ dated 8th June, 2023: “The Reserve Bank of India’s (RBI’s) rate-setting panel unanimously decided to keep the benchmark lending rate unchanged at 6.5%. The committee voted to remain focused on the withdrawal of accommodating monetary policy.” On the basis of the given text and common understanding, answer the following questions: Identify and discuss the economic issue indicated in the above text.
For a hypothetical economy, assume the government increased infrastructural investment by ₹10,000 crore. 80% of additional income is consumed in the economy. Estimate the increase in income and the corresponding increase in consumption expenditure in the economy.
Discuss any two factors that lead to stagnating Indian agriculture sector during British rule.