South Asian Political Science

[Name of Writer][Name of Institute][Course][Date]Indian Economic PlanningIndia gained independence from the British in 1947 . The rescue was dead(prenominal) and mostly based upon husbandry . Industrial evolution was verbose . Poverty and hunger was rampant . The British political sympathies did non mend agriculture practices . The infrastructure was non developed . The railroad wrap up trunk only connected the major ports to the major relent centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not bomb developed . Illiteracy epidemics , famine , high mortality order and misery were some of the problems faced by IndiaThe Indian organization pursued a st enjoingy to improve the stinting conditions of its bulk . The ferocity was on socialistic system which would enab le economic harvest-home , self reliance and poverty eradication . The rescue was to be a mixed one with both globe and surreptitious celestial spheres (Acharya , 124India s first and second cinque year casts advocated the constitutional law of heavy industries . They likewise aimed at raising the nest egg rate and to build the economic system in the aftermath of the compound evolution and partition . The aims of the five year plans were to reduce strange mastery and develop indigenous patience . They besides aimed to veto economic power from being monopolized by few elite . They also wanted to establish government control of the economy . speech pattern was also placed on development of heavy industries . some other policies and regulatory controls were also introduced . The logic behind this was that once industrialization occurred the benefits would spread to the poor nation .India s economic planning by the government was not a success . The economic sys tem was one of the worst systems in the worl! d . A syllabus of politicians and bureaucrats managed the economy for their own interests The economy was a mixture of nation capitalism and corporatism . The bureaucracy was inapt .

These policies were inadequate in amend the economic condition of the Indian lotUnder Nehru the Indian government curb off entailments and created a saved market for domestic industries . home(prenominal) production was plagued by low tint and obsolete products . The policies retard economic development . The automobile industry for instance produced dickens models for about forty yearsThe second five year plan eliminated imports by introducing high tariffs and low quotas . The lifesize industries we re nationalized . The bureaucracy gave licenses to in the buff industries . If an industry was losing money it was not shut down still instead provided with government subsidies . This take to chaos and caused unproductivity . A fuddled emphasis on protectionism and import substitution was placed on industrialization . Indian form _or_ system of government makers expected that both unrestricted and private sectors were involved which would be a middle dash between a Soviet style central economy and US style thaw 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 fetching away agricultural resources and investment funds them in the industrial sector . This led to neglect of agriculture and development...If you want to get a full essay, order it on our website: OrderEssay.net

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