Underscore some of India’s most crucial economic challenges at the time of independence.
The exploitative colonial rule of the British hampered almost every sphere of Indian economy badly. As an end-result, India faced acute economic challenges at the time of independence. The following are some of the economic challenges faced by the Indian economy:
1. Low Level of Agricultural Productivity: During the colonial rule Indian agricultural sector was used by the British to suit their own interest. Consequently, Indian agricultural sector experienced stagnancy, low level of productivity, lack of investment, poor condition of landless farmers and peasants. Thus, the immediate concern for India was to develop its agricultural sector and its productivity. Some of the immediate reforms needed at the time of independence were abolition of the Zamindari system, need of land reforms, reducing inequality of land ownership and upliftment of the peasants.
2. Infant Industrial Sector: India failed to develop a sound industrial base during colonial rule. In order to develop the industrial sector, India needed huge capital, investments, infrastructure, human skills, technical knowhow and modern technology. Further,due to stiff competition from the British industries, India's domestic industries failed to sustain. Thus, developing small scale and large scale industries simultaneously was the main concern for India to develop its industrial sector. Moreover, the need to increase the share of the industrial sector to India's GDP was one of the important economic challenges for India.
3. Lack in Infrastructure: Although there was a significant change in the infrastructural development in the country, this was not sufficient to improve the performance of the agricultural and industrial sector. Also, there was a need to upgrade the existing infrastructure and to modernise the infrastructure to enhance its efficiency and effectiveness.
4. Poverty and Inequalities: India was trapped in the vicious circle of poverty and inequality. The colonial rule drained out a significant portion of India's wealth to Britain. Consequently, the majority of India's population was poverty stricken. This further exaggerated economic inequalities across the country.
Compare and contrast the development of India, China and Pakistan with respect to some salient human development indicators.
How is RBI controlling the commercial banks?
Explain the steps taken by the government in developing rural markets.
What are the functions of the environment?
Distinguish between the following
(i) Strategic and Minority sale
(ii) Bilateral and Multi-lateral trade
(iii) Tariff and Non-tariff barriers.
Why was the public sector given a leading role in industrial development during the planning period?
Match the following:
1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. Chairperson of the planning commission D. The money value of all the final goods and services produced within the economy in one year. E. Improvements in the field of agriculture to increase its productivity F. The monetary assistance given by government for production activities. |
Infrastructure contributes to the economic development of a country. Do you agree? Explain.
Find the odd man out (i) owner of a saloon (ii) a cobbler (iii) a cashier in Mother Dairy (iv) a tuition master (v) transport operator (vi) construction worker.
Highlight any two serious adverse environmental consequences of development in India. India’s environmental problems pose a dichotomy — they are poverty induced and, at the same time, due to affluence in living standards — is this true?
How is human development a broader term as compared to human capital?
What are the main characteristics of health of the people of our country?
Why did India opt for planning?
How do the following factors contribute to the environmental crisis in India? What problem do they pose for the government?
(i) Rising population
(ii) Air pollution
(iii) Water contamination
(iv) Affluent consumption standards
(v) Illiteracy
(vi) Industrialisation
(vii) Urbanisation
(viii) Reduction of forest coverage
(ix) Poaching
(x) Global warming
Why is agricultural diversification essential for sustainable livelihoods?
Explain how investment in education stimulates economic growth.
Explain the Great Leap Forward campaign of China as initiated in 1958.
Discuss the main drawbacks of our health care system.
Identify six factors contributing to land degradation in India.
What is marketable surplus?