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 for the most part based upon agriculture . Industrial development was tiresome . destitution and hunger was rampant . The British regime did not meliorate agriculture practices . The infrastructure was not developed . The railroad bourn system of rules only connected the major ports to the major ca-ca centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not powerful developed . Illiteracy epidemics , famine , high mortality roll and misery were some of the problems faced by IndiaThe Indian politics pursued a st locategy to improve the sparingal conditions of its battalion . The emphasis was on socialistic system which would enable economic growth , egotism reliance and poverty eradication . The parsimony was to be a mixed one with some(prenominal) overt and private welkins (Acharya , 124India s set-back and second quintuple year formulates advocated the physical composition of heavier-than-air industries . They as well as aimed at raising the savings rate and to build the miserliness in the aftermath of the compound growth and partition . The aims of the five year plans were to reduce international command and develop indigenous persistence . They also aimed to retain economic power from being monopolized by few selected . They also wanted to establish government control of the sparing . dialect was also situated on development of gravid industries . some other policies and regulatory controls were also introduced . The logic foundation this was that once industrial enterprise occurred the benefits would spread to the poor state .India s economic planning by the g overnment was not a success . The economic s! ystem was one of the worst systems in the world . A family line of politicians and bureaucrats managed the economic system for their own interests The economy was a mixture of say capitalism and corporatism . The bureaucracy was incompetent .

These policies were inadequate in alter the economic condition of the Indian peopleUnder Nehru the Indian government undertake off imports and created a protected market for domestic industries . interior(prenominal) production was plagued by low woodland and obsolete products . The policies retarded economic development . The automobile industry for instance produced c ardinal models for about forty yearsThe second five year plan eliminated imports by introducing high tariffs and low quotas . The larger industries were nationalized . The bureaucracy gave licenses to fresh industries . If an industry was losing money it was not debar 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 place course between a Soviet style key economy and US style free market economy (Ahluwalia , 134Businesses were also set up in backward areas of India . This required 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 affirm a f ull essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper