Post on 16-Jan-2016
Economic Economic Development of IndiaDevelopment of India
ProblemsProblems
Build Agriculture and Build Agriculture and IndustryIndustry– Food and manufactured Food and manufactured
goodsgoods
ProblemsProblems
Agriculture:Agriculture:– Poor soilPoor soil– Inefficient farming methods Inefficient farming methods – Needed to increase crop outputNeeded to increase crop output– Land distributionLand distribution– Tenant farmingTenant farming– overpopulationoverpopulation
ProblemsProblems
Industry:Industry:– Dependence on imported Dependence on imported
manufactured goods, machines, and manufactured goods, machines, and oiloil
– Gov’t run businesses inefficientGov’t run businesses inefficient– Limited foreign investmentLimited foreign investment
SolutionsSolutions
Gov’t took lead to develop Gov’t took lead to develop Agriculture and IndustryAgriculture and Industry
SolutionsSolutions
Nehru: Nehru: – Socialist principlesSocialist principles– series of five year plans with limited series of five year plans with limited
foreign investment – mixed economyforeign investment – mixed economy– Factories to produce manufactured Factories to produce manufactured
goodsgoods– gov’t: steel, mining, textile, gov’t: steel, mining, textile,
transportation, energytransportation, energy– private: consumer goodsprivate: consumer goods
SolutionsSolutions
Rajiv: Rajiv:
– liberalized economy: liberalized economy: stimulated economic growth stimulated economic growth in Indiain India
Encouraged private enterpriseEncouraged private enterprise
– Foreign partnershipsForeign partnerships
SolutionsSolutions
moved from socialism (Nehru 1950-60) moved from socialism (Nehru 1950-60) to free/private enterprise and the to free/private enterprise and the liberalization of the economy (Rajiv liberalization of the economy (Rajiv Gandhi 1980)Gandhi 1980)
Agriculture: Agriculture: – gov’t irrigation systemsgov’t irrigation systems– New machinesNew machines– Green Revolution (video): use technology to (video): use technology to
increase output of cropsincrease output of crops– Land reform Land reform
India’s Economic GoalIndia’s Economic Goal
create a modern industrialized create a modern industrialized nation nation
self sufficient self sufficient – Video -Video - India's Economy: The Road Ahead