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 stagnant and mostly based upon agriculture . Industrial development was windy . Poverty and hunger was rampant . The British political sympathies did non improve agriculture practices . The infrastructure was not developed . The railroad track trunk only connected the major ports to the major return centers . Cites like Bombay and Madras were major centers of trade and commerce . The industries were not flop developed . Illiteracy epidemics , famine , high mortality pasture and misery were some of the problems faced by IndiaThe Indian government pursued a st enjoingy to improve the stinting conditions of its bulk . The emphasis was on socialistic system which would enable economic growth , self reliance and poverty eradication . The economy was to be a mixed one with both globe and private celestial spheres (Acharya , 124India s first and second five year casts advocated the fundamental law of heavy industries . They likewise aimed at raising the savings rate and to build the economy in the aftermath of the colonial evolution and partition . The aims of the five year plans were to reduce foreign mastery and develop indigenous industry . They besides aimed to prevent 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 people .India s economic planning by the government was not a success . The economic system was one of the worst systems in the world . 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 incompetent .

These policies were inadequate in amend the economic condition of the Indian peopleUnder Nehru the Indian government curb off imports and created a protected market for domestic industries . home(prenominal) production was plagued by low quality 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 large industries were 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 led to chaos and caused unproductivity . A fuddled emphasis on protectionism and import substitution was placed on industrialization . Indian policy 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 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 fetching away agricultural resources and investing 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

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