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 expectant based upon agriculture . Industrial development was tiresome . poverty and hunger was rampant . The British regime did not emend agriculture practices . The infrastructure was not developed . The railroad stage business system of rules only connected the major ports to the major produce centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not correctly developed . Illiteracy epidemics , famine , high mortality range and misery were some of the problems faced by IndiaThe Indian authorities pursued a st locategy to improve the sparingal conditions of its battalion . The emphasis was on socialistic system which would enable economic growth , ego reliance and poverty eradication . The parsimony was to be a mixed one with both(prenominal) overt and private welkins (Acharya , 124India s original and second quin year formulates advocated the physical composition of strained industries . They as well as aimed at raising the savings rate and to build the rescue in the aftermath of the colonial growth and partition . The aims of the five year plans were to reduce unknown command and develop indigenous manufacturing . They also aimed to restrain economic power from being monopolized by few selected . They also wanted to establish government control of the frugality . dialect was also determined on development of big(p) industries . some other policies and regulatory controls were also introduced . The logic loafer this was that once industrial enterprise occurred the benefits would spread to the poor plurality .India s economic planning by the government wa s not a success . The economic system was on! e of the worst systems in the world . A family line of politicians and bureaucrats managed the preservation for their own interests The economy was a mixture of say capitalism and corporatism . The bureaucracy was clunky .

These policies were inadequate in alter the economic condition of the Indian peopleUnder Nehru the Indian government undertake off imports and created a protect market for domestic industries . interior(prenominal) production was plagued by low timbre and obsolete products . The policies retarded economic development . The automobile industry for instance produced cardinal models for abou t 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 boot out 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 center field course between a Soviet style primaeval economy and US style free market economy (Ahluwalia , 134Businesses were also set up in backward areas of India . This take 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 want to energise a full essay, order it on our website: OrderCustomPaper.com

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