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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Economics
The original interpretation of balanced growth relates to
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Ragnar Nurkse, the pioneer of the balanced growth theory, asserted that inducement to invest, which is low in a developing country, is limited by the size of the market. That is why the government should take up expansionary activities in a number of sectors simultaneously and as result there would develop inter-complementarily of demand between agriculture and manufacturing sectors. This in turn would expand the size of the market, investment to induce will pick up, and the economy will grow.