Income an Economic Development Indicator used as a Parameter of Happiness
| International Journal of Economics and Management Studies |
| © 2016 by SSRG - IJEMS Journal |
| Volume 3 Issue 10 |
| Year of Publication : 2016 |
| Authors : SakshiManchanda |
10.14445/23939125/IJEMS-V3I6P103
How to Cite?
SakshiManchanda, "Income an Economic Development Indicator used as a Parameter of Happiness," SSRG International Journal of Economics and Management Studies, vol. 3, no. 10, pp. 15-23, 2016. Crossref, https://doi.org/10.14445/23939125/IJEMS-V3I6P103
Abstract:
This paper attempts to highlight the current happiness status of the Indian society. Income and happiness are close knit that is, with rise in income happiness increases. Population belonging to higher socio economic strata are comparatively happier than those of lower and middle income groups. The lower and middle class people suffice in only fulfilling their basic physiological needs and paying their bills whereas the ones on the other extreme enjoy all the luxuries life has to offer. India being a developing country where 95% of the people belong to the lower income group, in order to increase subjective and overall happiness the hike in income becomes essential. The government has introduced various strategies, schemes and plans to provide employment that further leads to income generation and escalation. In spite of all these attempts, the main goal of these agendas has been partially achieved. The paper focuses on each of these areas and attempts to highlight the main issues and problems faced by the population and how can the modifications in current economic policies be used to bring an upsurge in happiness and social harmony. This paper also offers a series of recommendations about ways of responding to the issues raised.
Keywords:
Economic Development, Income, Happiness, Social Harmony, Government Plans.
References:
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