Here we present to you Notes on Economic Reforms in India since 1991. The economic reforms process of 1991 had …
Notes on Indian Economy between 1950 to 1990
Though, India attained self-sufficiency in food production, it remained an agriculture economy as 65% population was still engaged in agriculture 1990. Industrial and service sectors could not absorb the extra workforce engaged in agriculture.
Industrial base become diversified and also attained high growth rate of 6%. It provided new investment and employment opportunities, especially for SSI. However, policy of import substitution and reservation of production badly affected the quality of the goods produced. Growth of private sector was hindered by license policy and reservation of industries for public sector.
India GDP growth was merely around 4%, often termed as Hindu Growth Rate (Coined by Raj Krishna). Share of Industrial Sector in GDP increased from 11.8% to 24.6%.
India failed to promote export oriented industries, resulting in foreign exchange crisis in 1990. The crisis forced India to adopt a more comprehensive Economic Policy in 1991 which focused on Liberalization, Privatization and Globalization.
Indian Economy on the eve of Independence Notes in Hindi-स्वतंत्रता की पूर्व संध्या पर भारतीय अर्थव्यवस्था पर नोट्स
स्वतंत्रता की पूर्व संध्या पर भारतीय अर्थव्यवस्था के नोट्स 12 वीं कक्षा के अर्थशास्त्र के छात्रों के लिए अच्छी तरह से तैयार किए गए नोट्स हैं। ये नोट्स संक्षिप्त हैं, हालांकि, अध्याय के हर पहलू पर प्रकाश डालते हैं। इसके अलावा, ये नोट्स बहुत आसान भाषा में हैं।
Unique Notes of Indian Economy on the eve of independence
We can say that Britishers made India a colonial (British Rule over India), Semi Feudal (Zamindars), stagnant (2% GDP & 0.5 per capita growth), backward (low productivity & high literacy), depleted (rapid depreciation of physical assets) and an amputated (partition) economy. However, it laid foundation for modern education system, industries, transportation, communication system and administrative set-up.