Question

How was economic development of India visualised in early decades of Independence ?

Answer 1

Answer:

Hi What Happened You Did Not

Reply Me Ha What Happened Ha . . . . . . . .

Answer 2

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→ How was economic development of India visualised in early decades of Independence ?

${\rm{\underline{\underline{Answer:-}}}}$

✿ In 1950, the government set up a Planning commission to help design and execute  suitable policies for economic development.

✿ There was a broad agreement on what was called a „mixed economy‟ model. Here,  both the state and the private sector would play important and complementary role in  increasing production and generating jobs.

✿  Industries should be initiated by the state and which by the market how to achieve a  balance between the different regions and states was to be defined by the Planning  Commission.

✿ In 1956, the Second Five year plan was formulated. This focused strongly on the  development of heavy industries such as steel and on the building of large dams

✿  These sectors would be under the control of the state.

✿  This focus on heavy industry and the effort at state regulation of the economy was to  guide economic policy for the next few decades.  

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