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smStI ArQSwsqr dy isDWq




                         È؇     AviD dy aqpwdn dy bdlwv dw ν guxw
                                 hY[adwhrx dy leI, AviD t + 3 dy su`D
                                 invyS = ν (Y    –Y   ) jW 40 = 4 (115
                                           t + 3  t + 2
                                 –105)[ iehdw Bwv ieh hY ik qvrk dw
                                 mu`l 4 idqw hox qy AwKwrI aqpwd iv`c
                                 10 kroV rupey dI virDI hox qy puMjIgq
                                 vsquAw  dI mMg  iv`c  40  kroV  rupey  dI
                                 virDI huMdI hY[ pirxwmsvrup puMjIgq
                                 vsquAW dI kul mMg v`Dkr 80 kroV rupey
                                 ho jWdI hY (sqMB 6) jyVw 40 kroV rupey
                                 pRiqsQwpn invyS (sqMB 4) Aqy 40 kroV
                                 rupey su`D invyS (sqMB 5) dy joV qo pRwpq
                                 huMdI hY[ jd q`k AwKrI vsquAW (aqpwdn)
                                 dI mMg iv`c virDI hMudI hY qd q`k su`D
                                 invyS Dnwqmk huMdw hY[ pr jd ieh G`t
                                 hoxI sUru huMdI hY qW su`D invyS irxwqmk
                                 huMdw hY[ auqy qwilkw iv`c kul aqpwdn               icqr 11.1
                                 (sqMB  2) iv`c AviD  t  + 1 qo  t  + 4
                                 q`k v`DeI dr nwl virDI huMdI hY, iesI qrW su`D invyS iv`c[ Pyr AviD  t +  5 qo
                                 t +  6 q`k ieh G`tdI dr nwl v`Ddw hY Aqy su`D invyS G`t ho jwdW hY AviD  t +  7 qo
                                 t + 9 q`k kul aqpwdn ifgdw hY Aqy su`D ivvyS irxwqmk ho jwdW hY[
                                 qvrx isDWq ƒ ryKwicqr rwhI icqr 11.1 iv`c ivKwieAw igAw hY ijQy auqy dy ihsy iv`c kul aqpwdn vkr
                                 Y  + 4 AviD q`k v`DdI dr nwl v`Ddw jwdW hY[ Pyr t + 6 AviD q`k G`tdI dr nwl v`Ddw hY[ iehqo bwd
                                   t
                                 ifgxw sUru kr iddW hY[ icqr iv`c Qwly dy ihsy iv`c l  vkr ivKwieAw hY ik AviD t + 4 q`k aqpwd v`Dxy
                                                                         n
                                 nwl su`D invyS iv`c virDI hMudI hY ikauik aqpwdn v`DdI hoeI dr nwl v`D irhw hY[ pr jd AviD t + 4 Aqy
                                 t + 6 dy iv`c aqpwdn G`tdI dr nwl v`Ddw hY qW su`D invyS G`t ho jwdW hY[ jd t + 7 AviD qy aqpwdn G`t
                                 hoxw sUru krdw hY qW su`D invyS irxwqmk ho jwdW hY[ vkr l  ArQ-ivvsQw dy skl invyS ƒ ivKwaudw hY[
                                                                              g
                                 iehdw ivvhwr su`D invyS vkr dy brwbr hI hY[ pr donW iv`c iek AMqr hY ik skl invyS irxwqmk nhI hY Aqy
                                 jd AviD t + 8 iv`c ieh jIro ho jwdW hY qW l  vkr auqy dI Aor v`Dxw suru kr iddW hY[ ieho ijhw ies kwrx
                                                                  g
                                 ik suD invyS irxwqmk hox nwl vI pRiqsQwpn invyS (R) iek hI dr nwl ArQ-ivvsQw iv`c ho irhw hY[
                                 AwlocnwvW (Its Criticism)
                                 qvrx-inXm dI kTor minXqwvW dy kwrx ArQ-SwqrIAW ny kVI AwlocnwvW kIqI hY[iehdI sImwvW hyT ilKI hY-
                                    1.  puMjI-aqpwdn Anupwq siQr nhI  (Capital-Out Ratio not Constant) – qvrx-inXm siQr puMjI
                                       aqpwdn (capital-output ratio) Anupwq qy AwDwirq hY[ pr AwDuink rwPqwr vwly sMswr iv`c ieh Anupwq
                                       siQr nhI hhdw[AwivSkwr Aqy aqpwdn Aqy aqpwdn dI qknIk iv`c inrMqr suDwr huMdy rhMdy hn ijQy
                                       nwl puMjI apskr dw pRiq iekweI aqpwdn v`D jwdW hY[ Aqy, vrqmwn puMjI apskr qo v`D ghnqw nwl
                                       kMm ilqw jw skdw hY[ Pyr, kImqW, mjdUrI, ibAwj dy sMbD nwl ivAwpwirAW dI pRqXwSwAW iv`c bdlwv
                                       nwl BwvI mMg qy pRBwv pYdW hY Aqy puMjI-aqpwdn Anupwq bdl jwdw hY[ ies qrW, puMjI-aqpwdn Anupwq
                                       siQr nhI rihdW blik ivAwpirk-ckr dI iBn AvsQwvW qy bdl jwdW hY[
                                    2.  sMswDn locdwr nhI (Resources not Elastic) – qvrx-inXm mMn ildW hY ik swDn aplbD rihdy hY
                                       (resources are available)[ swDn locdwr hoxy cwihdy qwik auhnWƒ puMjIgq vsqu aDogW qy lwieAw jw
                                       sky ijdy nwl auh ivsqwr kr skx[ieh qd hI sMbv hY jdik ArQ-ivvsQw iv`c byrojgwrI hovy[ pr jd
                                       ArQ-ivvsQw iek vwr purx rojgwr dy p`Dr qy puMj jWdI hY, qW prXwpq swDnW dI ApRwpXqw dy kwrx
                                       pMujI-vsqu aDog ivsqwr nhI kr pwdyN[ iehdy nwl qvrx inXm dI kwrvwhI sIimq ho jWdI hY[



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