Question

Difference between current industrial policy and policy prior to 1991

Answer 1

Economic policies of under Nehru-Gandhis were greatly influenced by Soviet-style policies . During Mrs. Gandhi’s rule , India almost became a communist regime .

1 The low annual growth rate of the economy of India before 1980, which stagnated around 3.5% from 1950s to 1980s, while per capita income averaged 1.3% .
2 There had been a Licence Raj in India .
3 This Licence Raj was a result of Chacha Nehru socialist ideolog . He wanted to bulid a soviet-like economic system in which state controls everything .