“This is the part of the economy that aims to provide the essential needs of the people, in general, their production, distribution, marketing, shopping, storage, pricing, sales, freight charges, preformat costing, and all related activities. Most important, it is directly concerned with the guaranteed provision of minimum requirements like food, clothes, housing, medical care, education, transportation, energy supply, and the supply of irrigation waters. The continuous improvement and ready availability of these essentials is a key factor in people’s economy”.
People’s economy comprises the following areas:
- Employment for all
- Eradication of mass poverty
- Development of rural economy
- Phase-wise socialization of land into the hands of those who work physically or intellectually for production
- Practical training programs to impart skills that help people find employment in their immediate urban or rural locality
- Work placement
- Transportation, trans-shipment, loading, and unloading of materials
- Generation of cheap power and the supply of water
- Economic decentralization
- Encouragement of cooperative spirit (dynamism)
- Block-level planning
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Question: What do we want, increase in per capita income, or increase in purchasing capacity?
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