The Indian economy has become a victim of extensive exploitation. Natural resources, gold mines, human resources, iron ores, and wealth also undergone extreme misuse and manipulation. Because of these issues, the Indian economy on the eve of independence manifested very low and weak economic growth. To make massive progress and move ahead in future enormous knowledge and efforts were required.
The British colonies in India made no attempts to evaluate India’s Per Capita Income, Gross Domestic Product, and National Income during their rule. Though, after independence, few Indians attempted to estimate India’s economy. But the attempt failed due to lack of expertise, inconsistency, and inaccuracy.
Let us understand and get more insight into various phases of the Indian economy on the eve of independence.
- Agriculture Sector
- Industrial Sector
- Foreign Trade
- Demographic Condition
- Occupational Structure
For more concepts and study materials of class 11 Economics, visit BYJU’S or download the app for more information and the best learning experience.