Promotion and trade commerce:-
Commerce refers to the activities of wealth and resources.production of goods distribution of produces and wealth ,risk of profit etc.On the other hand trade refers to the activities of sales and purchase of goods and produces with a view to earning profit.Trade is a function with the framework of commerce.Trade and commerce means all the financial activities done on the basis of profile and loss.
sometimes countries for the temporary welfaare of its nationals make policy of certain financial activities at break even point or at loss.But this policy cannot be permanent nature.
promotion of trade and commerce in our country ,mainly depends on the policies formulated by government and active co operative of private trade and enterprenueurs.In the socialistic economy all the financial activities are controlled by government bodies where as in capitalistic economy government simply announces policies and these are exhibited by the private personels and entrepreneurial.
Our countries economy is mixed economy.here Government formulates trade and commercial policy which are being exhibited both by national institutes and privates.As a result promotion of trade and commerce depends on the collectiveactivites of both the government and non government institutes.Economy of this country was highly dependable and shaky at the initial stage of its liberation due to whicheffective policy for the promotion of trade and commerce could not be established. ,more over provide individual were not sincere and co-operative to the policies.
(1) Banking and insurance companies:-
Initially banks and insurance companies were nationalized to control and commercial activities but subsequently to increse commercial activities trade and libaralise trade Government allowed establishing financial sectors.
(2) Foreign aid for communication and industries :-
Industrial & communicational development is one of primary criteria for improvement of trade and commerce .now a days a substantial amount of foreign aid is being utilised in these sectors and a considerable progress has been made by this time.
(3) Power supply :-
Power is one of the main factors of economic development .Growth of industries what so ever the nature requires power.Industrial development is directly concerned with trade the trade and commerce.Power is also required for irrigation which is the heart of agricultural product.During the last area visible exeption of supply of power to the rural areas have been made along with urban areas.
(4) Trading House (national & private):-
Trading houses like TCB Ministry of food and petroleum are operating on behalf of Government and a good & many private trading houses are dealing in various goods produced Government has given a number of facilities to these trading houses for their activities.
(5) International Trade :-
A part from the trading houses some Govt. bodies and hundreds of thousands individuals firms are engaged in international trade which is included both import & expor.Government has given a number of facilities to increase export trade with a view to earning foreign currency.
(6) Agricultural products :-
To activate trade and commerce Govt. has established buying centres of some agricultural products in some sub urban and rural areas. More over BADC is offering services in the irrigation ic,Hyv seeds and fertilizers apart from the private companies to increase agricultural products which in turn acclerate commercial and trade activities. Voluminous trade aThanks
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