1. After Independence in which field India had made a significant headway?
Answers
Answer:
OK
Explanation:
last 72 years has been marked by significant milestones and reforms that enabled it to achieve substantial progress in many areas including rise in income levels, growth, literacy, life expectancy and a wide variety of other economic indicators. As India commemorates 72 glorious years as an independent nation, let’s look back at some of the significant achievements of our economy over the years.
Incomes expand
Since 1947, India has achieved tremendous progress in raising growth, income levels and standards of living. The gross domestic product (GDP) increased from Rs 2,939 billion during 1950-51 to Rs 56,330 billion during 2011-12 (2004-05 constant prices). In 2018-19, India’s GDP was valued at an estimated Rs 1,40,776 billion (2011-12 constant prices).
At the same time, the average Indian citizen earned an income of just around Rs 7,513 during 1950-51 which increased to Rs 41,255 during 2011-12 (2004-05 constant prices) and further to Rs 92,565 during 2018-19 (2011-12 constant prices). The per capita income increased in real terms despite a significant increase in the population of the country.
Agriculture and allied sectors boom
The agricultural sector continues to be an important sector in the Indian economy and generates livelihood for more than half the population. The real gross value added by the agriculture, forestry and allied sectors went up from around Rs 1,502 billion in 1950-51 to around Rs 22,263 billion as per the 2011-12 calculations.
The advent of the Green Revolution during the 1960s was a game-changer for the country. It saw the adoption of modern technology and methods to produce high yield variety seeds, that significantly raised agricultural productivity and increased foodgrain production.
The net production of foodgrains in India increased from around 48 million tonnes during the 50s to a massive 241 million tonnes during 2017. India continues to be one of the largest producers of rice, wheat and various fruits and vegetables in the world and is also the leader in milk production.
Industry diversifies
India has also made significant strides in terms of industrial development since Independence. The Industrial Policy of 1991 constituted a major economic reform and was introduced to reinvigorate the industrial sector. The policy dismantled the system of industrial licensing and opened the sector for greater private sector participation as well as foreign investment.
In terms of real gross value added, manufacturing, construction and electricity, gas and water supply sector stood at around Rs 401 billion during 1950-51. Presently, the sector is valued at around Rs 36,684 billion (2011-12 series).
Many sectors gained pace in the manufacturing scenario. From just 3 automobile companies, the automotive sector attracted global multinationals and built up a range of products of global quality standards. In pharmaceuticals, India is now a major producer and undertakes research to develop new drugs. Engineering and electrical machinery goods have evolved to global benchmarks as well.
In services, new sectors such as Information Technology and telecommunications have transformed the landscape, creating new opportunities such as e-commerce and startups. India’s IT skills are renowned the world over.
Conventional services industries have also expanded, with financial services, tourism and hospitality, and retail changing in multiple ways, adapting to technology and gaining share in the economy. The real gross value added for the services sector comprising of trade, hotels, transport and communications increased from around Rs 308 billion during 1950-51 to Rs 14,023 billion during 2011-12 (2004-05 series) and is estimated at around Rs 24,711 billion during 2018-19 (2011-12 series).
Answer:
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