South Asian Political Science

[Name of Writer][Name of Institute][Course][Date]Indian Economic PlanningIndia gained independence from the British in 1947 . The prudence was dead(a) and in general based upon agriculture . Industrial development was silent . meagreness and hunger was rampant . The British disposal did not remediate agriculture practices . The infrastructure was not developed . The rail bed carcass only connected the major ports to the major articulated lorry centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not flop developed . Illiteracy epidemics , famine , high mortality judge and misery were some of the problems faced by IndiaThe Indian judicature pursued a st positiongy to improve the frugalal conditions of its sight . The emphasis was on socialistic system which would enab le economic growth , self-importance reliance and poverty eradication . The parsimoniousness was to be a mixed one with both prevalent and private palm (Acharya , 124India s first and bit five year computer programmes advocated the organic law of sonorous industries . They as well aimed at raising the savings rate and to build the parsimoniousness in the aftermath of the compound ontogeny and partition . The aims of the five year plans were to reduce exotic supremacy and develop indigenous industry . They also aimed to keep economic power from being monopolized by few elite . They also regarded to establish giving medication control of the economy . tension was also placed on development of heavy industries . different policies and regulatory controls were also introduced . The logic behind this was that formerly industrialization occurred the benefits would spread to the poor people .India s economic plan by the government was not a success . The economi c system was one of the worst systems in the! world . A class of politicians and bureaucrats managed the economy for their own interests The economy was a mixture of estate capitalism and corporatism . The bureaucracy was incompetent .

These policies were inadequate in modify the economic condition of the Indian peopleUnder Nehru the Indian government rationalise off imports and created a protected grocery store for home(prenominal) industries . house servant production was plagued by funky character reference and obsolete products . The policies mentally retarded economic development . The political machine industry for instance produced 2 models f or 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 forward-looking industries . If an industry was losing money it was not shut down and instead provided with government subsidies . This led to topsy-turvydom and caused unproductivity . A severe emphasis on protectionism and import substitution was placed on industrialization . Indian policy makers evaluate that both public and private sectors were involved which would be a middle itinerary between a Soviet musical mode central economy and US style free market economy (Ahluwalia , 134Businesses were also set up in slow-witted areas of India . This required producing goods which could be afforded by the poor people . India s economic plans were financed by pickings away agricultural resources and investing them in the industrial sector . This led to neglect of agriculture and development...If y ou want to get a full essay, order it on our website:! OrderCustomPaper.com

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