Economic Policy and Its Need

Economic policies are statements of aims and ideals to be achieved through various instruments draw by the Government to guide the process of scotch development. In a way, it can be termed as a morphological response to correct economic imbalances (and inequality). Government, by manipulating economic and loving variables, influences the process of resource allocation to achieve desired direct of economic development with social justice and stability. An economic form _or_ system of government essentially relates to either or all of the three radical economic decisions viz., what to produce, how to produce and for whom to produce at macro level.
Generally, it is believed that economic form _or_ system of government-makers are guided by economic considerations back up by economic theories in framing various subsets of economic policies. However, in the democratic countries like India, the decisions about public policy in general and economic policy in fact are taken by the elected representatives at dissimilar levels. Hence, these are essentially political decisions. Apart from legislators, different shades of public opinion, through mass-media, bureaucracy, judiciary, trade organizations, experts bodies, voluntary organizations (NGOs), and other bear on groups exert pulls and pressure to influence the process of economic policies formulation.



Hence, experience of the interaction between politics and economics can divine service us to gain insight into the key questions of making, implementation and visitation of economic policies and programs.
Need of Economic Policy in exploitation countries. Market system is an institutional arrangement that has persisted and evolved over the past few hundred years because it has contributed greatly to our economic well-being. It is not perfect, however, and in some situations, our economic well-being can be raised by regulating it or even by side-stepping it altogether. Failure of market is the most important reason bottom making of an economic policy. Economic...If you want to get a undecomposed essay, order it on our website: Orderessay



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