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Give an idea regarding Indian economic thought.

Vidyadip · Accepted Answer

Indian history and culture are almost more than $5000$ years old. So Indian philosophy depicts various aspects of our rich culture and human life and provides insights into ‘a way of life’.In Hinduism there is a concept of ‘Purushartha’ Gujarati: In Indian philosophy, Purushartha means ‘Purpose of a human being’ and it refers to the four goals or aims of a human life.
These goals are:

’Dharma’ $($righteousness, duty$)$
‘Arth’ $($purpose, benefit, wealth$)$
‘Kama’ $($desire$)$ and
‘Moksha’ $($liberation$)$.

Out of these four goals, the activities of life done for ‘arth’ $($benefits$)$ are the subject matter of economics.
Thus, any activity done with the purpose of obtaining some benefit is called an economic activity. ‘Arth’ is one of the four goals or duties of a human being to create wealth as a means of living and for material pleasures.
About $2500$ years ago, Kautilya who is also known as Chanakya in his book ‘Arthshashtra’ discussed the purpose of economic activity undertaken by a state and society.
According to Kautilya, the main intention of a human being is ‘arth’ $($wealth$)$. The piece of land on which a human settles is considered his ‘arth’ $($wealth$)$ and thus the science explaining the purpose and utility of wealth creation on earth is called economics.

Year	$1970-71$	$1980-81$	$1990-91$	$2000-01$	$2010-11$
Production $($In lakh tonn.$)$	$23.8$	$36.3$	$55.1$	$69.7$	$86.9$

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