A Study on Structure of the Economy of Udalguri Sub-Division, Assam (India)
In this study we make an attempt to visualize the structure of the economy of Udalguri Subdivision of Assam, India. The structure of an economy comprises the characteristic features of and the interrelationships among its constituent parts and subsystems. These characteristic features and interrelationships typify the economy and give to it a style, an appearance and individuality of its own. In our study area, we find only a weak interrelationship among various sectors of the economy. The urban sector has little impact on the productive system, mainly due to poor infrastructure. Conspicuous and ceremonial expenditure is substantial, specially in the villages inhabited by indigenous people vis-à-vis the villages inhabited by immigrant people from Bangladesh. The economy is subsistence driven and productive resources are underutilized. Marginal productivity of labour is near- zero and productivity of land provides only subsistence. Poverty keeps consumption and savings low. Capital formation in the rural sector is negligible. Especially, the indigenous farmers are less enterprising vis-à-vis the immigrant farmers. Overall, the economy is in the trap of low-level equilibrium.
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