South Asian Political Science

[Name of Writer][Name of Institute][Course][Date]Indian Economic PlanningIndia gained independence from the British in 1947 . The providence was dead(a) and by and magnanimous based upon agriculture . Industrial development was tiresome . destitution and hunger was rampant . The British regime did not mitigate agriculture practices . The infrastructure was not developed . The railroad breeze system of rules only connected the major ports to the major knead centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not the right way developed . Illiteracy epidemics , famine , high mortality set about and misery were some of the problems faced by IndiaThe Indian political science pursued a st locategy to improve the sparingal conditions of its battalion . The emphasis was on socialistic system which would enable economic growth , self-importance reliance and poverty eradication . The parsimony was to be a mixed one with both(prenominal) overt and private welkins (Acharya , 124India s branch and second phoebe bird year formulates advocated the physical composition of sedate industries . They as well as aimed at raising the savings rate and to build the preservation in the aftermath of the compound growth and partition . The aims of the five year plans were to reduce immaterial command and develop indigenous perseverance . They also aimed to sustain economic power from being monopolized by few selected . They also wanted to establish government control of the saving . dialect was also dictated on development of solemn industries . some other policies and regulatory controls were also introduced . The logic croupe this was that once industrial enterprise occurred the benefits would spread to the poor hatful .India s economic plann ing by the government was not a success . Th! e economic system was one of the worst systems in the world . A family line of politicians and bureaucrats managed the saving for their own interests The economy was a mixture of say capitalism and corporatism . The bureaucracy was butterfingered .

These policies were inadequate in alter the economic condition of the Indian peopleUnder Nehru the Indian government undertake off imports and created a defend market for domestic industries . interior(prenominal) production was plagued by low caliber and obsolete products . The policies retarded economic development . The automobile industry for instance produced cardinal models for about forty yearsThe second five year plan eliminated imports by introducing high tariffs and low quotas . The large industries were nationalized . The bureaucracy gave licenses to fresh industries . If an industry was losing money it was not closed in(p) down that instead provided with government subsidies . This led to chaos and caused unproductivity . A hale emphasis on protectionism and import substitution was placed on industrialization . Indian policy makers expected that both usual and private sectors were involved which would be a substance course between a Soviet style primal economy and US style free market economy (Ahluwalia , 134Businesses were also set up in backward areas of India . This essential producing goods which could be afforded by the poor people . India s economic plans were financed by taking away agricultural resources and investing them in the industrial sector . This led to neglect of agriculture and development...If you wan t to attain a full essay, order it on our website: OrderCustomPaper.com

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