Efficient Utilization of Savings

The rate of saving is low with respect to the rate of investment. Moreover, this low saving goes to stock market and real estate which are unproductive sectors. Therefore, savings are not utilized to their best use. With the growth industrial sector and reforms and measure to facilitate industrilists, more and more money will come into industries and savings will be utilized for productive use.

Total Disablement

Total Disablement means such disablements, whether of a temporary or permanent nature, as in capacities a workmen for all work which he has capable of performaing at the time ofaccident resultinh in such disablement. Provided that permanent  total disablement shall be deemed to result from every injury specified in part of Table or form any combination of injuries.

Partial Disablement

Partial Disablement means, where the disablement is of a temporary nature, such disablement as reduces his earning capacity in any employment in which he was engaged at the time of the accident resulting in the disablement as reduces his earning capacity in every employement which he has capable of under taking at that time.

Partial Disablement may be of two types:-

1. Temporary Partial Disablement
2. Permanent Partial Disablement

Monopsony

Monopsony means "monopoly of buyers". If farmers bring in more quantity of a good than what is demanded, they have to settle for alower price because of the perishable nature of agricultural products. This creates a lot of frustation and disappoinment to the farmer who worked day in and day out to produce a particular good and than gets less than what he deserves.

Reducing Poverty

Many of the countries, more than 30% people live below the line of poverty. The poor people find difficulty in survival. Moreover, they lack in education and generally never beocme capable of doing anything which can improve their economic conditions. Therefore, the vicious circle of poverty passes to generations after generations. For economic development, poverty reduction is a basic prerequisite.