How was
the economic development of India visualised in the early decades
after Independence?
How was the economic development of India visualised in the early decades after Independence?
How
economic development of India was visualised in the early decades
after independence:
Objectives
− Lifting India and Indians out of poverty, and building a
modern technical and industrial base were among the major objectives
of the new nation.
Planning
Commission and Five Year Plans
− A Planning Commission was set up to help design and execute
suitable policies for economic development.
Mixed-economy
− A mixed-economy model was agreed upon. In this economic
model, both the State and the private sector would play important and
complementary roles in increasing production and generating jobs.
Focus
on heavy industries and dams − In
1956, the Second Five Year Plan was formulated. This focussed
strongly on the development of heavy industries such as steel, and on
the building of large dams.
The
focus on heavy industry, and the effort at state regulation of the
economy (which was to guide the economic policy for the next few
decades) had many critics. This approach was criticised because:
(i) It put
inadequate emphasis on agriculture
(ii) It
neglected primary education
(iii) It
did not take into account the environmental implications of
concentrating on science and machinery
How economic development of India was visualised in the early decades after independence:
Objectives − Lifting India and Indians out of poverty, and building a modern technical and industrial base were among the major objectives of the new nation.
Planning Commission and Five Year Plans − A Planning Commission was set up to help design and execute suitable policies for economic development.
Mixed-economy − A mixed-economy model was agreed upon. In this economic model, both the State and the private sector would play important and complementary roles in increasing production and generating jobs.
Focus on heavy industries and dams − In 1956, the Second Five Year Plan was formulated. This focussed strongly on the development of heavy industries such as steel, and on the building of large dams.
The focus on heavy industry, and the effort at state regulation of the economy (which was to guide the economic policy for the next few decades) had many critics. This approach was criticised because:
(i) It put inadequate emphasis on agriculture
(ii) It neglected primary education
(iii) It did not take into account the environmental implications of concentrating on science and machinery
