Social Science

Economic Development

India

Bangladesh

Japan

U.S.A

India

The economic development in India followed socialist-inspired policies for most of its independent history, including state-ownership of many sectors; India's per capita income increased at only around 1% annualised rate in the three decades after its independence. Since the mid-1980s, India has slowly opened up its markets through economic liberalisation. After more fundamental reforms since 1991 and their renewal in the 2000s, India has progressed towards a free market economy.

India's GDP growth during January–March period of 2015 was at 7.5% compared to China's 7%, making it the fastest growing economy. During 2014-15, India's GDP growth recovered marginally to 7.3% from 6.9% in the previous fiscal. During 2014-15, India's services sector grew by 10.1%, manufacturing sector by 7.1% & agriculture by 0.2%. The Indian government has forecast a growth of 8.1-8.5% during 2015-16.

Agriculture and Employment sector

• Agriculture sector

• India ranks first worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India.

• Employment sector

• India's labour force is growing by 2.5% every year, but employment is growing only at 2.3% a year. Official unemployment exceeds 9%.

• From the overall stock of an estimated 458 million workers, 394 million (86%) operate in the unorganised sector (of which 63% are self-employed) mostly as informal workers. There is a strong relationship between the quality of employment and social and poverty characteristics.The relative growth of informal employment was more rapid within the organized rather than the unorganised sector.

BangladeshBangladesh is a developing country that is classified as a Next

Eleven emerging market and one of the Frontier Five.

According to a recent opinion poll, Bangladesh has the second

most pro-capitalist population in the developing world.

Between 2004 and 2014, Bangladesh averaged a GDP growth

rate of 6%. The economy is increasingly led by export-

oriented industrialization. The Bangladesh textile industry is

the second-largest in the world. Other key sectors

include pharmaceuticals,shipbuilding, ceramics, leather goods

and electronics.

Agriculture and Employment sector

• Agriculture sector• Most Bangladeshis earn their

living from agriculture.Although rice and jute are the primary crops, maize and vegetables are assuming greater importance.Due to the expansion of irrigation networks, some wheat producers have switched to cultivation of maize which is used mostly as poultry feed. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas.

• Employment sector• 87.71% of the workers in

Bangladesh are under informal employment. The highest concentration of informal workers is found in the rural areas (92%). Workers engaged in informal employment are mostly in agriculture; hunting and forestry; wholesale and retail trade; manufacturing; and transport, storage, and communications sectors. On the other hand, formal workers are primarily employed by the government.

JapanThe economy of Japan is the third largest in the world by nominal GDP, the fourth largest by purchasing power parity and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP(PPP) was at $36,899, the 22nd-highest in 2013.Japan is a member of G7. The Japanese economy is forecasted by Tankan survey of business sentiment conducted by the Bank of Japan.

Agriculture and Employment sector• Agriculture sector

• Japan is the second-largest agricultural product importer in the world. Rice, the most protected crop, is subject to tariffs of 777.7%. The Japanese agricultural sector accounts for about 1.4% of the total country's GDP. Only 12% of Japan's land is suitable for cultivation.] Due to this lack of arable land, a system of terraces is used to farm in small areas. This results in one of the world's highest levels of crop yields per unit area, with an overall agricultural self-sufficiency rate of about 50% on fewer than 56,000 km² (14 million acres) cultivated.

• Employment sector• Many both in and outside

of Japan share an image of the Japanese work environment that is based on a "simultaneous recruiting of new graduates and "lifetime-employment model used by large companies as well as a reputation of long work-hours and strong devotion to one's company.. At the very top, the most prestigious companies would recruit and retain the best workers by offering better benefits and truly lifetime job security. By the 1960s, employment at a large prestigious company had become the goal of children of the new middle class, the pursuit of which required mobilization of family resources and great individual perseverance in order to achieve success in the fiercely competitive education system.

U.S.AThe United States is the world's largest national economy, representing 22% of nominal global GDP and 17% of global GDP (PPP). The United States' GDP was estimated to be $17.841 trillion as of Q2 2015.The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. The United States has a mixed economy and has maintained a stable overall GDP growth rate.

Agriculture and Employment sector

• Agriculture sector• The United States Department of

Agriculture (USDA), also known as the Agriculture Department, is the U.S. federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food. It aims to meet the needs of farmers and ranchers, promote agricultural trade and production, work to assure food safety, protect natural resources, foster rural communities and end hunger in the United States and internationally.

• Employment sector• There are approximately 154.4 million

employed individuals in the US. Government is the largest employment sector with 22 million. Small businesses are the largest employer in the country representing 53% of US workers. The second largest share of employment belongs to large businesses that employ 38% of the US workforce. The private sector employs 91% of working Americans. Government accounts for 8% of all US workers. Over 99% of all employing organizations in the US are small businesses. The 30 million small businesses in the U.S. account for 64% of newly created jobs (those created minus those lost). Jobs in small businesses accounted for 70% of those created in the last decade.