UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 4 Issue 10
October-2017
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR1710121


Registration ID:
304044

Page Number

782-789

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Title

Economic Development During Liberalization and The Socio- Economic Status of The Rural Poor: A Case Study of Bihar

Abstract

This paper investigates the underlying causes of poor economic growth of Bihar despite being endowed with relatively rich natural resources. Against the conventional view, the analysis reveals that poor economic growth is not due to a particular factor but an outcome of a myriad of social, economic and political factors rooted in structural, historical and macro-economic policies. The economic marginalization of Bihar began in the colonial era through the establishment of an exploitative landlord class, which constantly resisted economic and social development even after independence in 1947. The process of marginalization has further been reinforced by the federal central government’s policy of ‘freight equalization’, which nullified the comparative advantage of Bihar in natural resources by subsidizing railway freights of industrial inputs like coal, iron ore, steel, cement and other bulk resources. This, combined with relatively low financial resources received from central government over the consecutive plan periods, has undermined these states’ capacity to invest in health, education, and other social and physical infrastructure and resulted in low human development. The poor performance of Bihar may be attributed to low human capital, weak institutions and poor infrastructure coupled with political instability and social conflict rooted in sectarian politics based on caste, class and ethnic division. Keywords: Economic growth; resources endowment; government policy, Bihar

Key Words

: Economic growth; resources endowment; government policy, Bihar

Cite This Article

"Economic Development During Liberalization and The Socio- Economic Status of The Rural Poor: A Case Study of Bihar", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.4, Issue 10, page no.782-789, October-2017, Available :http://www.jetir.org/papers/JETIR1710121.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Economic Development During Liberalization and The Socio- Economic Status of The Rural Poor: A Case Study of Bihar", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.4, Issue 10, page no. pp782-789, October-2017, Available at : http://www.jetir.org/papers/JETIR1710121.pdf

Publication Details

Published Paper ID: JETIR1710121
Registration ID: 304044
Published In: Volume 4 | Issue 10 | Year October-2017
DOI (Digital Object Identifier):
Page No: 782-789
Country: Siwan, BIHAR, India .
Area: Arts
ISSN Number: 2349-5162
Publisher: IJ Publication


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