GROWTH DEVELOPMENT CHILD
GROWTH AND DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Major investments in human capital such as investing in policies such as longer working hours and lower wages
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Diversification of labour intensive goods
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Government support of R&D for appropriate technologies
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Increased employment from the use of labour intensive production of goods
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Detailed explanation-1: -The main reason for this is that, the expansion of labour-intensive exports generates employment opportunities, while import-substitution policies often result in capital-intensive production processes that displace labour.
Detailed explanation-2: -Export promotion is sometimes seen as a complementary development strategy to import protection. Therefore India cannot rely only on import substitution because both import substitution and export promotion have their own advantages and disadvantages, therefore, there should be a balance between them.
Detailed explanation-3: -Export promotion and import substitution are the two important measures for narrowing down and ultimately wiping out the balance of payments deficit. Infact, Import-substitution and Export Promotion are the two aspects of the coin.”
Detailed explanation-4: -Export promotion like import substitution has great influence in a country’s foreign exchange reserves. But unlike in the import substitution where the existing reserve is saved, in export promotion the foreign exchange reserve increase due to increase in the amount of international trade being undertaken.