describe the performance of the agriculture and industrial sectors in India in the period since Independence till the end of the1980s
Answers
Phase I-High Growth Phase (1950-51 to 1965-66)
Building up of Strong Industrial Structure: It was the period from the beginning of the 1st plan to the end of 3rd plan which laid the foundation for the industrial development by building up a strong industrial structure .There was a noticeable acceleration in industrial output because of Two major factors – First and most important factor responsible for high growth was the emphasis on industrialisation; particularly since the Second five year plan. High priority was given to industrial growth vis-a-vis other objectives in first three plans.
Secondly, this was a period of price stability and the food grain prices remained stable. The agriculture output showed a higher trend compared to pre-independence period. In case of any shortage, the domestic supply was supplemented by PL-480 imports. There is adequate inflow of foreign aid from other countries. Moreover, public sector investment was through non-inflationary means.
Phase ll-Industrial Deceleration and Structural Retrogression (1966-80)
This phase is also _ known as Low Growth Phase or Industrial Deceleration, particularly the period from 1965-1974 as shown in table 1. The rate of growth fell steeply from 9.0% per annum during the 3rd plan to a mere 4.1% per annum during the period 1%5 to 1974. It is also important to point out that even this meagre rate of Industrial growth does not express the true situation as there was a sharp increase of 10.6% in Industrial production in the year 1976-77. If this year is left out then the rate of Industrial growth over the 10 year period 1%5 to 1974 declines further to a meagre 3.7% per annum.
In addition to the phenomenon of deceleration in industrial growth during the period 1965-1980, Table 1 also brings out clearly the phenomenon of structural retrogression that plagued the Industrial Sector during this period. From the point of view of long run Industrial Development, the most important group of industries is the group of capital goods industries. This group registered a consistent and considerable increase from 9.8% per annum in the 1st plan to 13.1% per annum in the 2nd plan and further to a phenomenal 19.6% in the 3rd plan. However, in the next 11 years the capital goods sector grew at an annual rate of only 2.6%. If we consider the Vth plan period, the rate of growth of capital goods industries goes up to 5.7% per annum, even this substantially lower than the rates of growth recorded m: the 1st three plans. The same story is found in the case of basic industries....
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An independent India was bequeathed a shattered economy, widespread illiteracy and shocking poverty.
Contemporary economists divide the history of India’s economic growth into two phases – first 45 years after independence and the two decades of free market economy. The years preceding the economic liberalisation were mainly marked by instances wherein economic development got stagnated due to a lack of meaningful policies.
The economic reforms came to India’s rescue with the launching of a policy of liberalisation and privatisation. A flexible industrial licensing policy and a relaxed FDI policy started getting positive responses from international investors. Among the major factors that drove India’s economic growth following the economic reforms of 1991 were increased FDI, adoption of information technology and an increased domestic consumption.
Service Sector Growth
A major development in the nation’s services sector has been the tele services and information technology. A trend that started some two decades back is now well in its prime. Several multinational firms continue to outsource their tele services and IT services to India. The acquisition of expertise in information technology has led to the generation of thousands of new jobs, which in turn increased domestic consumption and naturally, more foreign direct investments happened to meet the demands.
Presently, the services sector employs 23% of the Indian workforce and this process of development started back in the 1980s. In the 60s, the sector employed only 4.5% of the working population. According to the Central Statistical Organization, the services sector accounted for 63% of Indian GDP in 2008 and the figure continues to grow.
Growth of Agriculture Sector
Since 1950s, the progress in agriculture has been somewhat steady. The sector grew at about 1 percent per annum in the first half of the 20th century. During the post-Independence era, the growth rate nudged about 2.6 percent per annum. Expansion of farming area and introduction of high-yielding varieties of crops were the major factors of growth in agricultural production. The sector could manage to end dependency on imported food grains. It has progressed both in terms of yield and structural changes.
Consistent investment in research, land reforms, expansion of scope for credit facilities, and improvement in rural infrastructure were some other determining factors that brought about an agricultural revolution in the country. The country has also grown strong in the agri-biotech sector. The Rabobank report reveals that the agri-biotech sector has been growing at 30 percent since the last few years. The country is also likely to become a major producer of genetically modified/engineered crops.
Infrastructure Development
The Indian road network has become one of the largest in the world with the total road length increasing from 0.399 million km in 1951 to 4.24 million km as of July 2014. Moreover, the total length of the country’s national highways has increased from 24,000 km (1947-69) to 92,851 km (2014). Governmental efforts have led to the expansion of the network of State highways and major district roads, which in turn has directly contributed to industrial growth.
As India needs power to drive its growth engine, it has triggered a noteworthy improvement in the availability of energy by adopting a multi-pronged approach. After almost seven decades of Independence, India has emerged as the third largest producer of electricity in Asia. It has increased its electricity generation capacity from 1,362 MW in 1947 to 1,13,506 MW as of 2004. Overall, power generation in India has increased from 301 billion units (BUs) during 1992- 93 to 558.1 BUs in 2003- 04. When it comes to rural electrification, the Indian government has managed to bring lights to 5,93,732 (2013 figures) villages as compared to 3061 in 1950.