Economics of Development and Planning — Economics STD 12 — Question
Tamilnadu BoardEnglish MediumSTD 12EconomicsEconomics of Development and Planning3 Marks
Question
What is the meaning of New Welfare oriented Approach?
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Answer
New Welfare oriented Approach:
During 1970s, economic development was redefined in terms of reduction of poverty, ‘inequality’ and unemployment within the context of a growing economy.
In this phase, ‘Redistribution with Growth’ became the popular slogan.
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