Page 99 - DECO402_MACROECONOMIC_THEORY_HINDI

bdkbZµ10% fuos'k iQyu

1- ldy fuos'k vkSj 'kq¼ fuos'k (Gross Investment and net Investment) uksV

ldy fuos'k ,d fuf'pr le; vofèk esa ubZ LFkk;h iw¡thxr laifÙk;ksa (tSls edku] ;a=k] dkj[kkus vkfn) vFkok
eky rkfydkvksa (tSls dPpk eky] vfofØr miHkksx oLrq,¡) esa ifjorZu dk mYys[k djrk gSA ldy fuos'k dks
lkaosQfrd :i esa bl izdkj izdV fd;k tk ldrk gSµ
D K vFkok I = K – K
t t t o
;gka] D K ,d fuf'pr le; vofèk t esa i¡wthxr LVkWd esa ifjorZu gS] K dk vFkZ vofèk t osQ var esa iw¡thxr
t t
LVkWd gS rFkk K vofèk osQ izkjaHk esa iw¡thxr LVkWd gSA bls vofèk tosQ var esa ldy fuos'k dgk tk ldrk gSA
o
vFkZO;oLFkk esa fd;k x;k ldy fuos'k] vko';d ugha fd iw¡thxr LVkWd esa 'kq¼ o`f¼ gks] D;ksafd ubZ iw¡th dk
,d Hkkx voewfY;r (depreciated) iw¡thxr LVkWd dk izfrLFkkiu djus osQ fy, vko';d gksxkA o"kZ osQ nkSjku
voewfY;r iw¡th osQ izfrLFkkiu ij mBk;k x;k O;; izfrLFkkiu fuos'k (replacement investment) dgykrk gSA
;g orZeku LVkWd dks cuk, j[kus osQ fy, t:jh gSA blfy,] ldy fuos'k esa ls izfrLFkkiu fuos'k vFkok iw¡th
miHkksx dks ?kVkdj] 'kq¼ fuos'k izkIr fd;k tk ldrk gSA nwljs 'kCnksa esa] 'kq¼ fuos'k dks izkIr djus osQ fy,
ldy fuos'k esa ls vofèk osQ mRiknu dks mRikfnr djus esa [kpZ dh xbZ (used up) orZeku oqQy <k¡pksa
(structures) vkSj mRikndksa dks fVdkÅ miLdj (equipment) dh jkf'k dks ?kVk fn;k tkrk gSA la{ksi esa]

'kq¼ fuos'k ¾ ldy fuos'kµizfrLFkkiu fuos'k
vFkok ldy fuos'k ¾ 'kq¼ fuos'k $ izfrLFkkiu fuos'kA

tc iw¡thxr LVkWd dks vfody (intact) j[kus osQ fy, ldy fuos'k ek=k i;kZIr gksrk gS] rks 'kq¼ fuos'k 'kwU;
osQ cjkcj gksrk gSA ;gk¡ ldy fuos'k vofèk osQ nkSjku [kpZ dh xbZ iw¡th dh jkf'k osQ leku gksrk gSA ijarq] tc
vFkZO;oLFkk eanh dh idM+ esa gksrh gS] u, fuos'k osQ y{k.k cgqr fujk'kkoknh gksrs gSaA bl eanh osQ okrkoj.k esa
vfofØr oLrqvksa osQ LVkWd tek gks tkrs gSa vkSj fuos'kd voewfY;r iw¡thxr miLdj dks izfrLFkkfir djus osQ
fy, O;; mBkus esa Hkh vfuPNqd gks tkrs gSaA tc ladYi fuos'k izfrLFkkiu vko';drkvksa ls de gksrk gS] mudk
varj Í.kkRed 'kq¼ fuos'k (disinvestment) gksrk gSA ;g iw¡th osQ LVkWd esa deh n'kkZrk gSA 'kq¼ fuos'k rHkh
laHko gksxk] tc ldy fuos'k izfrLFkkiu fuos'k ls vfèkd gksrk gSA 'kq¼ fuos'k esa deh u osQoy fodkl osQ
fy, xaHkhj #dkoV gS] cfYd ;g vFkZO;oLFkk dks eanh osQ tky esa Mky ldrh gS] ftlls yksxksa dks Hkkjh {kfr
(tremendous strain) igq¡prh gSA

2- foÙkh; fuos'k vkSj okLrfod fuos'k (Financial Investment and Real Investment)

foÙkh; fuos'k dk rkRi;Z osQoy ,d O;fDr ls nwljs dks vfèkdkj dk gLrkarj.k gSA blls vFkZO;oLFkk dk
okLrfod iw¡th LVkWd ugha c<+rk gSA mnkgj.k osQ fy,] cSad esa fu{ksi (deposits), ,d O;fDr }kjk edku] orZeku
va'ki=k (shares), Í.ki=k (debentures), ck.M (bonds) dh [kjhn] oqQN Hkh u;k mRiUu ugha djrhA buesa ek=k
,d O;fDr ls nwljs dks LokfeRo osQ vfèkdkj dk gLrkarj.k 'kkfey gksrk gS] ¯drq vFkZO;oLFkk dh oqQy iw¡th
vifjo£rr jgrh gSA tc ,d ozsQrk fuos'k dj jgk gksrk gS] rks nwljk (foozsQrk) fofuos'k (disinvests) dj jgk
gksrk gSA fuos'kd dks bl fuos'k ls oqQN izfriQy feyrk gSA ¯drq] vFkZO;oLFkk dh n`f"V ls dksbZ fuos'k ugha gksrkA

uksV~l tc iw¡thxr LVkWd dks vfody j[kus osQ fy, ldy fuos'k ek=k i;kZIr gksrk gS] rks 'kq¼ fuos'k 'kwU;
osQ cjkcj gksrk gSA

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