Page 262 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ 4. ibAwj dr nIiq (Interest Rate Policy) - iek ivkwsSIL ArQivvsQw dy leI aucI ibAwz dr nIiq
v~D bcq nUM pRoqswihq krdI hY, bYNikNg AwdqW ivkisq krdI hY Aqy ArQivvsQw dy mudrIkrx nUM qyjI pRdwn
krdI hY, jo pUMjI inrmwx Aqy AwriQk virDI dy leI jrUrI hY[ aucI ibAwj dr nIiq sPIiq nUM dUr krx vwlI
vI hY ikauNik ieh s`tY Aqy krMsIAW dy leI aDwr lYx Aqy invyS krn nUM hqoqswihq krdI hY[ iPr, ieh
nIiq durl`B pUMjI sMswDnW dy AwvNtn nUM v~D aqpwdkIX sroqW ivc vwDw idMdI hY[ kuJ ArQSwsqrI ieho ijhy
dySW ivc nINvI ibAwz dr nIiq dy smrQk hn ikaNik aucIAW ibAwz drW invyS ivc bwDk huMdIAW hn pr
AnuBivk pRmwx ieh d`sdy hn ik ivkwsSIl dySW ivc kwrobwr Aqy auiDXog ivc invyS ibAwz-byloc huMdy hn
ikauNik invyS dI kul lwgq ivc ibAwz dw bhuq G~t Anupwq huMdw hY[ ies ivpirq mqW dy bwvjUd, modirk
AiDkwrI dy leI ivBydk (discriminatory) ibAwz drW dI nIiq dw Anusrx krnw aicq hY[ ies nIiq dy
Anuswr, AnwvSk Aqy AnuqpwdkIX pRXogW dy leI aucIAW ibAwz drW Aqy aqpwdkIX pRXogW dy leI nIvIN
ibAWz drW hoixAW cwihdIAW hn[
5. bYNikNg Aqy iv`qI sMsQWvW sQwipq krnw (To Create Banking and Financial Institutions) - LDCs
ivc modirk nIiq dw iek ¿πÁ∂Ù pUMjI inrmwx dy leI bcqW nUM jutwauxw, pRvwihq krn Aqy pRoqswihq krn
dy leI bYNikNg Aqy iv`qI sMsQwvW dI sQwpnW Aqy ivkws krnw huMdw hY[ modirk AiDkwrI nUM pyNfU Aqy SihrI
KyqrW ivc SwKw bYNikNg dI sQwpnw nUM pRoqswhn dyxw cwihdw hY[ AYsI nIiq gYr-mOdrIkRiq Kyqr dy mudrIkrx
ivc shwiek hovygI Aqy pUMjI inrmwx dy leI bcq Aqy invyS nUM pROqswihq krygI[ ieh mudrw Aqy pUMjI bwjwr
nUM vI sMgiTq Aqy ivkisq krygI[ ivkwsoNmuKI modirk nIiq dI sPlqw dy leI ieh jrUrI hY, ijs ivc krz
pRbMD vI Swiml hY[
krz pRbMDn (Debt-Management) - iek ivkwsSIl dyS ivc swvrjink krz dw pRbMDn krnw modirk nIiq
dy mh`qvpUrx kMmW ivco iek hY[ iesdw lkS hY srkwrI boNfW dw aicq smyN qy jwrI krnw, auhnW dI kImqW
nUM siQr krnw Aqy swrvjink krz dI syvw lwgq nUM inauNqm bxwauxw[ krz- pRbMDn dw pRDwn lkS ieho
ijhIAW siQqIAW pYdw krdw hY ijnW ivc swvrjink krz vrHw- pRiq vrHw vD`dw jwvy[ ieho ijhy dySW ivc
swvrjink krz mudrw pUriq nUM inXMqirq krn Aqy ivkws pRogrwmW nUM iv`q pRdwn krn dy leI jrUrI huMdw
hY[pr swvrjink krz jrUr hI ssqI drW qy hoxw cwihdw hY[ inmn ibAwz drW srkwrI boNfW dIAW kImqW
vD`wdIAW Aqy auhnW nMU lokW dy leI v`D AwkrSk bxwauNdI hY[ auh krz dw pRBwv vI G`t mihsUs krdy hn[
nqIjw (Conclusion) - ies qrW smuicq modirk nIiq, ijvyN ik auqy d`sI geI hY, sPIiq nUM inXMqirq krn,
Bugqwn bwkI AMqrwl G`t krn, pUMjI inrmwx nUM pRoqswihq krn Aqy AwriQk virDI nUM vD`waux ivc shwiek
huMdI hY[
LDCs iv`c mudirk nIqI dIAW sImwvW (Limitations of Monetary Policy in LDCs)

ivkwsSIl dySW nUM AnuBv ieh d`sdw hY ik modirk nIiq dI ieho ijhy dySW ivc sIimq Buimkw huMdI hY[iesdy
hyT ilKy kwrx hn-
1. ivSwl gYr-mudirkRq Kyqr (Large Non-monetized Sector) - ieho ijhy dySW ivc iek gYr-mudirkRq
Kyqr huMdw hY jo modirk nIiq dI sPlqw ivc bwDk huMdw hY[AiDkqr lok pyNfU KyqrW ivc invws krdy hn ijQy
vsqu ivinXm pRxwlI dw pRcln huMdw hY[ pirxwmsrUp, modirk nIiq ArQivvsQw dy ivsqrq Bwg nUM pRBwivq
krx ivc AsPl huMdI hY[
2. Aivkisq mudrw Aqy pUMjI bwjwr (Undeveloped Money and Capital Markets) - mudrw Aqy pUMjI
bwjwr Aivkisq huMdy hn[ iehnW bjwrW ivc iblW, stwkW Aqy SyArW dw ABwv huMdw hY jo modirk nIiq dI
sPlqw nUMN sIimq krdy hn[

3. v`fIigxqI NBFIs (Large Number of NBFIs) - ieho ijhy dySW ivc dySIX bYNkrW ijvyN gYr-bYNk iv`qI
m`Divckwr v`fy pYmwny qy kMm krdy hn, pr ieh modirk AiDkwrI dy inXMqrx dy AMqrg`q nhIN AwauNdy hn[ies
kwrx vI ieho ijhy dysW ivc modirk nIiq dI pRBwivqw sIimq ho jWdI hY[

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