Economic Development And Policy In India Notes Pdf

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India - Economic Growth and Development

What was the condition of agriculture sector at the time of Independence? Ans : 1 Low level of agricultural productivity : Agricultural productivity became very low and this stagnation in agriculture sector was mainly due to systems of land settlement that were introduced by the British Government.

The Zamindari system, the profit accuring out of the agriculture sector went to Zamindaris instead of the cultivators. This lead to discouragement amongst the cultivators to produce less. High dependence on Monsoon :- Agriculture sector was mainly dependent on monsoon.

No effort was ever made under the British rule to develop permanent me Ans of irrigation. Low level of technology, lack of irrigation facility and negligible use of fertilizers, added to aggravate the plight of the farmers and contributed to the dismal level of agricultural productivity. Ans : - 1 Discriminatory Tariff Policy : The British Government allowed tariff free export of raw materials from India and tariff free import of British industrial products into India.

But a heavy duty on the export of Indian handicrafts products. It leads to decay of handicrafts industry in India. Due to low cost and better quality product produced by machine forced the Indian craftsmen to shut down the handicraft Industry in India. This changed the pattern of demand in India against the Indian products and in favour of British products.

As a result, the Indian Industry tended to Perish. As a result, the size of the market for the low cost British product expanded while it started shrinking for the high cost Indian products. This lead to decay of Industry in India.

What was the condition of foreign trade under the British rule? Ans 1 Due to discriminative tariff policy adopted by the British Government, India became net exporter of raw materials and primary products.

On the other hand, it became net importer of finished goods reproduced by the British Industry. It was only used to increase the pursuits of the British Government. Q 4 Mention the demographic profile during the British rule.

Ans : 1 High birth and High death rate implied low survival rate, which was nearly 8 per thousand per annum. Mention the condition of occupation structure at the time Independence. Ans : - i Agriculture was the principal source of occupation and about Q6 What was the condition of Infrastructure at the time of Independence. Ans : 1 There was some infrastructural development during the British in the area of tr Ans port and communication.

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Lack of Proper Input: Low level of technology, lack of irrigation facility and negligible use of fertilizers, added to aggravate the plight of the farmers and contributed to the dismal level of agricultural productivity. As a result, the Indian Industry tended to Perish iv More market for British Goods :- An introduction of railways facilitated the trAnsportation of the British products to different parts of the country.

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Ecco Notes For Class 11 Indian Economy at .. Download PDF

The economic policy of governments covers the systems for setting levels of taxation , government budgets , the money supply and interest rates as well as the labour market , national ownership , and many other areas of government interventions into the economy. Most factors of economic policy can be divided into either fiscal policy , which deals with government actions regarding taxation and spending, or monetary policy , which deals with central banking actions regarding the money supply and interest rates. Such policies are often influenced by international institutions like the International Monetary Fund or World Bank as well as political beliefs and the consequent policies of parties. Almost every aspect of government has an important economic component. A few examples of the kinds of economic policies that exist include: [1]. Stabilization policy attempts to stimulate an economy out of recession or constrain the money supply to prevent excessive inflation. Policy is generally directed to achieve particular objectives, like targets for inflation , unemployment , or economic growth.

About the Book. The Concept of Growth and Development 2. Characteristics of Underdeveloped Countries and the Indian Economy 3. Determinants of Development 4. Development Strategy 6. Some Issues of Population Growth in India 8.

CBSE Class 12 Indian Economic Development Revision Notes Chapter 2 – Indian Economy 1950-1990

India is one of the most populous countries in the world with a population in excess of 1. India has followed a different path of development from many other countries. India went more quickly from agriculture to services that tend to be less tightly regulated than heavy industry.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. India is widely affected by this pandemic. As on Taking into consideration its severe intensity, seen in the context of India having the highest rate of density population in the world, the Governments, both at Union and State levels, commenced necessary actions on war footing to prevent the spread of this pandemic.

Here we detail about the ten major economic policies which are followed in India and has played a major role in the growth of Indian economy. The first Industrial Policy based on the mixed economy principle was announced in which demarcated clearly the areas of operation of the public and private sectors.

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Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. The economies of India and China have grown rapidly over the past couple of decades, and it is widely accepted that these two emerging giants will transform the global economy in numerous ways over the coming decades. Despite the importance of these countries, their strengths and weaknesses, the sources of their growth, and the missing ingredients to sustain high growth rates—are not widely known. The speakers in the session, which was moderated by STEP board member David Morgenthaler, made it clear that although the economic growth of India and China has indeed been impressive, it has also been uneven, with some economic sectors developing more rapidly than others. The speakers further agreed that it is a mistake to think of the growth of the two countries as essentially similar.

Being a colony, she was fulfilling the development needs not of herself, but of a foreign land. The state, that should have been responsible for breakthroughs in agriculture and industry, refused to play even a minor role in this regard. British rulers never made any significant changes for the benefit of the social sector, and this hampered the productive capacity of the economy. Therefore, once India became independent, systematic organisation of the economy was a real challenge for the government of that time. The need for delivering growth and development was in huge demand in front of the political leadership - as the country was riding on the promises and vibes of national fervour.

Goals of Planning in India a. Long Term Goals To be achieved over a period of 20 years b. Modernisation — Adoption of new technology and changes in social outlook B. Self reliance — Reducing dependence on imports. Equity — Reduction in inequality of income and wealth E. Full employment — Refers to a situation when all the people in the working age group is actually engaged in some gainful employment.