Page 14 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ srkwrI Krc iv`c virDI dw iek dujW kwrx ikswnW ƒ dI jwx vwlI AwriQk shwAqw (Subsidy) hY[ ieh
gl iDAwx dyx vwlI hY ik Bwrq vwrgy dySW iv`c srkwrI Krc dw bhuq vfw ihsw gYr-ivkws kirAW (Non-
development Activities) iv`c Krc ho irAw hY[iesdw Bwv ieh hY ik srkwrI Krcw vsquAW Aqy syvwAW dy
apBog qy AiDk Aqy ahnw dy aqpwdn qy G`t hO irhw hY[Bwrq vrgy dyS iv`d v`D srkwrW Awmdn dy sMDwn dy
rup iv`c krz (Borrowing) qy v`D inrBr krdI hY[ pirxwmsvrup rwjkoSIAw Gwtw(srkwr rwhIN krj lYxw)
BwrI mwqrw c lgwqwr vD irhw hY[ srkwr rwhIN ilqy gey krj c ijnI AiDk bVoqwrI hMudI hY dyS dy kyndrIAw
bYNk (irzrv bYNk Aw`P ienifAw) dI not Cwpx dI ivvSqw aunI hI vD jWdI hY[iesdy PlsvrUp mudrw sPIiq
vwrgI AMg qy qyl pwx dw kMm purw ho irhw hY ijsdw kuprBwv dyS dI sMvirDI Aqy asdy ivkws qy pYdw hY[
ivklp dy rup iv`c, srkwr Awmdn dy sMwDn vDwaux dy leI AiDk kr lgwx dw prXws kr skdI hY[ pr
Agr srkwr rwhIN krdwqwAW rwhIN dI idNqI geI mudrw ƒ aqpwdn dI ApySw aupBOg sMbDI kirAwvW qy Krc
ikqw jwdw hY ( ieh vI Awm jnqw ƒ KuS krx dI nIiqAW ƒ vDvw dyx leI) qW iesdy nwl swmwijk ASWiq
PYldI hY ijdy nwl rwjnYiqk AsiDrqw pYdw hMudI hY Aqy dyS dI smucI AwriQk kirAw dy leI Kqrw vDdw hY[
bjt sMbDI Gwtw Aqy asdy nwl sMbDq rwjkoSIAw nIiq smStI ArQ Swsqr dI iek kyNdrI smisAw hY ijsqy
kVI nzr rKxw jrUrI hY qwik ArQ-ivvsQw iv`c invyS dy leI AnukUl vwqwvrx bxwieAw jw sky[

(6) ibAwj dry Aqy modrk nIiq (Interest Rates and Monetary Policy)
modrk nIiq dw sMbD an modrk apwXo nwl hY ijsdy rwhIN srkwr ArQ-ivvsQw ivc (i) bXwr dI dr Aqy
(ii) mudrw dI purqI iv`c pirvrqn lYdI hY ijsdy nwl siQrqw dy nwl nwl ivkws (Growth with Stability)
ƒ proqswihq ikqw jw skdw hY[ ibAwj dI aucI dr dw Bwv hY invyS dI aucI lwgq jyVI ik ivkws prkirAw
dy leI hwinkwrk hY[ Bwrq vwrgy Alpivkisq dySW dI ArQ-ivvsQwAW dy leI ibAwj dI aucI dry Aiq
sNvydnSIl hMudI hY, ikauNik iesdy kwrx swrI aqpwdn dI lwgq v``D jWdI hY Aqy AMqrrwStrI bwjwrW iv`c
auhnw dI priqXoigqwqmkqw (Competitiveness) G`t ho jWdI hY[ ies krky ien dysW dy inrXwqW ƒ Dkw
lgdw hY Aqy iehnw dI AwXwq Smqw G`tfI hY; jdkI vwsqivkqw ieh hY ik iehnw dySW dI AwriQk ivkws
dI giq ƒ qyj bnwx leI pMujIgq vsquAW dy AwXwq dI AwvSXkqw hudI hY[ dUjI Aor aucI ibAwj dI dr ien
ArQ-ivvsQwAw dy leI bhuq vfI cunoqI hY ikauNik iehdy nwl mudrw siPiq ƒ hor AiDk vDwvw imldw hY[
ieh ArQ-ivvsQwvW jAwdwqwr kirSI prDwn hMudI hY Aqy iesqy mosm dI bhuq AiDk prBwv pYdW hY, mIh n
pYx dy kwrx ien ArQ-ivvsQwvw iv`c KwDwn dI mMg Aqy purqI dy iv`c bhuq AiDk AsNqulx aqpn ho jwdw
hY ieh AsNqulx mudrw sPIiq ƒ jnm idMdw hY[mudrw sPIiq holI-holI purI AwriQk kirAw ƒ AwpxI lpyt
iv`c lY lYdI hY[ jd swmwnAw kImq p`Dr vDqw hY, qd ibAwj dI drW ƒ vDwvw Aqy asdy Gwqk pirxwm
inklxw, jrurI bx jwdw hY[
aprokq Bwg iv`c ies g`l dI crcw kIqI geI hY ik srkwr dw Gwty dw bjt Aqy iesdy pirxwmsrup srkwr
rwhIN krz dw shwrw lYxw smStI ArQ Swsqr dI iek kyNdrI smisAw bx cUkI hY[ krz dy kwrx Aksr
ArQ-ivvsQw iv`c mudrw dI purqI vD jWdI hY jyVI kI aun ArQ-ivvsQw dy leI mudrw sPIiq dw asy vyly
kwrx bxdI hY ijndI aqpwdn Smqw bhuq G`t jWdI hY[
mudrw dI purqI Aqy ibAwj dI drW ƒ inXNqrx iv`c rKxw Alpivsisq dySW dy leI smStI ArQ Swsqr
sMbDI bhuq vfI cunoqI hY ikauNik ieh dyS bhuq syqI sPIiq kwrk dbwvW dy iSkwr ho jWdy hn[pr iesdw ieh
Bwv nhI hY ik mOdrk nIiq ƒ ivkisq dySW iv`c koeI prwsWigkqw nhI hY[ jykr ArQ-ivvsQwAw G`t aqpwdn
Smqw Aqy auc smrg mMg dy kwrx sPIiq kwrk dbwvW dy priq svydnSIl hY, qW ivkisq ArQ-ivvsQwAW
vI vsquAW Aqy syvwAW dI kul purqI dI qulxw iv`c kul mMg dI AwvrqI kmI (Recurring deficiency of
aggregate demand) dy kwrx ivsPIiq kwrk dbwvW dy prqI aunI hI sNvydnSIl hY[
ivsPIiq dI siDqI iv`c invyS p@yrxw bhuq hI Gt ho jWdI hY[ Bwvy ibAwj dI drW G`t huMdI hY[ieho ijhI
ArQ-ivvsQwAW iv`c modrk nIiq dw ¿πÁ∂Ù mudrw dI purqI iv`c virDI krxw huMdw hY[ qwik vsquAW Aqy syvwAw dI
mMg qy ikqy jwx vwly Krc ƒ vfwAw jw sky Aqy ies qrW dI mMg ivc kmI ƒ dur ikqw jw sky[

8 LOVELY PROFESSIONAL UNIVERSITY